Today we’re going to be talking about MADP (Medicare Advantage Dis-enrollment Period) not to be confused with MAPD (Medicare Advantage Drug Plan) for Medicare beneficiaries out there the annual enrollment period or (AEP) ended December 7th. Did you go onto a Medicare Advantage plan? Do you have buyers remorse? Is a doctor that you thought you were going to go to doesn’t accept the plan? Are you unhappy with the network or the co-pays, or the deductibles, or the maximum out of pocket? Well you have an opportunity to go back to original Medicare. Historically it was until February 14th but it’s extended to March 31st. For the folks out there that want to jump back onto original Medicare with a Medicare supplement policy you can do it. This is the Medicare Advantage dis-enrollment. There are three legs to this stool if you’re coming off an Advantage plan. Original Medicare, a supplement policy and your Part D maintenance medication drug plan.
Remember though if you are enrolled in your original Medicare and the Medicare supplement and you change your drug plan in the annual open enrollment period or AEP from October 15th to December 7th you cannot change your Part D drug plan during this MADP. Take a look at your Medicare Advantage policies make sure it is working for you. It’s not too late you still have an opportunity to dis-enroll and go onto original Medicare and a Medicare supplement policy. Remember Medicare pays for 80% the supplement depending on what Medicare supplement you get will pay for the remaining 20%. It doesn’t have any co-pays depending on the plan no maximum out of pocket and the freedom to go see who you want.
Watch this video on MADP.
