If you've received notice that your Medicare Advantage plan will no longer be available in 2027, you may be wondering what comes next. The good news? You have options, and one of them could be a Medicare Supplement (Medigap) plan.
In fact, losing your Medicare Advantage coverage because your plan is being discontinued may give you a valuable opportunity to enroll in a Medicare Supplement plan without medical underwriting, regardless of your current health.
Here's what you need to know.
What Happens When Your Medicare Advantage Plan Ends?
If your Medicare Advantage plan is being discontinued at the end of 2026, you may qualify for what's called a guaranteed-issue right.
This means you can return to Original Medicare and purchase certain Medicare Supplement plans without answering health questions or being denied coverage because of preexisting medical conditions.
But timing matters. Generally, you have until 63 days after your Medicare Advantage coverage ends to exercise this right. You may also apply before your current coverage ends.
For plans terminating December 31, 2026, the 63-day period generally extends through March 4, 2027.
It's important to understand that not every plan change qualifies. For example, if your Medicare Advantage plan automatically transitions you into another plan through a process known as a crosswalk, this generally does not establish guaranteed-issue rights based on plan termination alone.
Which Medicare Supplement Plans Can You Choose?
Under federal guaranteed-issue rules, eligible individuals may select from certain Medicare Supplement plans offered in their state.
These generally include Plans A, B, C, D, F, and G, subject to Medicare eligibility requirements.
Two popular options worth considering are:
- Plan F: Available to individuals who became eligible for Medicare before January 1, 2020.
- Plan G: Available to eligible Medicare beneficiaries, including those who became eligible on or after January 1, 2020.
High Deductible Plan G may also be an option, depending on availability and applicable enrollment rights.
What about Plan N?
Although Plan N is another popular Medicare Supplement option, it is not included in the standard federal guaranteed-issue protections for this situation. Medical underwriting may be required unless additional state protections apply.
Why Consider a Medicare Supplement Plan?
If you're accustomed to Medicare Advantage coverage, switching to Original Medicare with a Medicare Supplement plan may offer some appealing advantages.
Greater freedom to choose your doctors. With Original Medicare, you can generally visit any doctor or hospital nationwide that accepts Medicare, without being restricted to a Medicare Advantage provider network.
More predictable healthcare expenses. Medicare Supplement plans help pay certain out-of-pocket costs that Original Medicare doesn't cover, such as deductibles and coinsurance. Depending on the plan you select, this can make your healthcare expenses easier to anticipate.
Coverage you can count on. Standardized Medicare Supplement policies are generally guaranteed renewable as long as you pay your premiums, even if your health changes.
Keep in mind that Medicare Supplement plans have monthly premiums and do not include prescription drug coverage. If you're leaving Medicare Advantage, you may also want to enroll in a separate Medicare Part D prescription drug plan.
Don't Forget This Important Step
If you decide to apply for a Medicare Supplement plan using your guaranteed-issue rights, you'll need to provide documentation showing that your Medicare Advantage coverage is ending.
This is typically the official nonrenewal or termination notice you received from your Medicare Advantage insurer.
Your Medicare Supplement insurance carrier may require this documentation to process your application under guaranteed-issue rules.
Documentation can generally be submitted through the carrier's secure online portal or another approved submission method. Be prepared to provide identifying information requested by the carrier, such as your name, date of birth, ZIP code, and Medicare number.
For your protection, avoid sending sensitive Medicare information through unsecured email.
Let AMAC Help You Explore Your Options
Losing your Medicare Advantage plan can feel unsettling, but it may also be an opportunity to find coverage that better fits your healthcare needs and budget.
AMAC's licensed Medicare advisors can help you understand your options, compare available Medicare Supplement plans, and navigate the enrollment process.
Don't let this valuable enrollment opportunity pass you by!
If your Medicare Advantage plan is ending, now is the time to explore your options and make an informed decision about your coverage for 2027. Reach our advisors at 855-611-4856 or get your free review online.
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