What happens if my Medicare Advantage plan is canceled?

These days, Medicare Advantage plans sometimes cancel a plan or leave an area, causing Altons and Gertrudes to flip out when a letter arrives saying they will not have that coverage at the end of the year.

If you get a letter like that, do not panic: when a plan’s Medicare contract ends or is not renewed, you generally get a Special Enrollment Period to choose another Medicare Advantage plan.

You can also return to Original Medicare, and when your coverage ends because the plan is leaving Medicare or your area, federal guaranteed-issue protections generally let you buy certain Medicare Supplement plans without medical underwriting.

Keep the cancellation notice and act promptly, because the Medigap application window can begin 60 days before your Medicare Advantage coverage ends and generally closes 63 days afterward.

So if you have been thinking about moving to a supplement, a plan cancellation may give you an opportunity you did not have before.

You will probably want professional help comparing the choices—but hey, that is why they pay me the medium bucks.

Source: Medicare.gov: When can I buy a Medigap policy?

This general educational information is not individual plan advice. Plan availability and benefits vary by location and contract year.