Medicare Supplement in Case Medicare Advantage is Cancelled
Posted Dec 19 2009 5:46pm
According to the article “Advantage Plan Cancellation: What To Do” found on TucsonCitizen.com, you have two options in the case that your Medicare Advantage Plan is cancelled. It’s important to understand those options to the best of your ability so you aren’t left without coverage for any period of time.
The first option is to change to another Advantage Plan as quickly as possible. The other option is to return to a Medicare Plan and get a Medicare Supplement along with it. This is called “guaranteed issue” and it’s a great option for many. Finding individual health insurance can be challenging for anyone, but when your Medicare Advantage Plan is cancelled, you don’t want to be left scrambling.
In order to take advantage of “guaranteed issue” a few requirements must be met. A copy of the cancellation letter from the company canceling the Medicare Advantage Plan must be submitted along with the Medicare Supplement application. It’s important to ensure the appropriate boxes on the application are checked to show that one would be eligible for “guaranteed issue”.
The first option is to change to another Advantage Plan as quickly as possible. The other option is to return to a Medicare Plan and get a Medicare Supplement along with it. This is called “guaranteed issue” and it’s a great option for many. Finding individual health insurance can be challenging for anyone, but when your Medicare Advantage Plan is cancelled, you don’t want to be left scrambling.
In order to take advantage of “guaranteed issue” a few requirements must be met. A copy of the cancellation letter from the company canceling the Medicare Advantage Plan must be submitted along with the Medicare Supplement application. It’s important to ensure the appropriate boxes on the application are checked to show that one would be eligible for “guaranteed issue”.