Alert! Is your Medicare Advantage plan terminating coverage Dec. 31?

If your Medicare Advantage plan is terminating coverage effective Dec. 31, you are not without options. A federal law enacted in 2018 provides protections for the approximately 2.9 million beneficiaries affected by plan terminations from about 680 Medicare Advantage plans nationwide.

During the Medicare open enrollment period from Oct. 15 to Dec. 7, you can select a new Medicare Advantage or Part D plan starting Jan. 1. If your plan was terminated or not renewed, you qualify for a special enrollment period running from Dec. 8 through the end of February to explore other coverage options.

Losing your Medicare Advantage plan triggers guaranteed-issue rights to buy a Medicare supplement (Medigap) policy without medical underwriting. You must switch to original Medicare within the special enrollment period and keep your termination letter as proof of loss of coverage when applying.

Under these rights, you can buy Plan A, B, C, F, K, or L from any insurer in your state, with some exceptions based on when your Part A began. You have a 63-day window to apply without answering health questions, and insurers cannot charge you more due to past or present health problems.

Sources: Las Vegas Review-Journal