Switching from Medicare Advantage to Original Medicare: A Comprehensive Guide
01 Oct 2023 ∙ 2 min read
Quick Overview
Considering a switch from Medicare Advantage (Part C) to Original Medicare? Dive into our comprehensive guide to understand why someone might make this change, the process involved, and insights on top companies and products in the Medicare sphere.
Why Switch from Medicare Advantage to Original Medicare?
Many beneficiaries initially choose Medicare Advantage because of the additional benefits it offers over Original Medicare. However, over time, some may realize that the restrictions posed by networks such as HMO or PPO don’t suit their healthcare needs. Additionally, the flexibility of Original Medicare, combined with a Medicare Supplemental Insurance plan, might offer better coverage options and potential cost savings for some individuals.
Understanding the Basics: Medicare Advantage vs. Original Medicare
Medicare Advantage (Part C) is an alternative to Original Medicare, encompassing both Part A and Part B benefits, and often includes Part D Medicare (prescription drug coverage). It's offered by private companies approved by CMS and can come in various forms like HMO, PPO, PFFS, and POS. On the other hand, Original Medicare is a federal program comprising Part A (hospital insurance) and Part B (medical insurance), which gives beneficiaries the freedom to choose any doctor or facility that accepts Medicare.
The Process of Switching
Switching involves disenrolling from your current Medicare Advantage plan and returning to Original Medicare. The best time to make this switch is during the Medicare Advantage Open Enrollment Period (January 1 to March 31). During this period, you can switch to another Medicare Advantage Plan or go back to Original Medicare. If you decide to switch, you'll also have until March 31 to join a Medicare Prescription Drug Plan if your Advantage plan had drug coverage.
Top Companies Offering Original Medicare Options
Beneficiaries returning to Original Medicare might seek supplemental coverage through Medigap policies. Companies like Aetna, United Healthcare, Cigna, Humana, Blue Cross Blue Shield, and more offer competitive Medigap plans that work alongside Original Medicare, providing a buffer against out-of-pocket costs.
Seeking Help with Medicare Decisions
With a myriad of options available, deciding on your Medicare coverage can be overwhelming. Understand your Medicare eligibility and seek guidance from professionals or trusted sources like Truth Medicare. We partner with top insurance companies to offer insights and help you navigate the complex Medicare landscape to find the plan that best fits your needs.