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Leaving a South Carolina Medicare Advantage Plan - Why Should I and How Do I Do It? South Carolina Medicare Advantage plans are a "privatized" version of the government's Medicare program. They way these type of plans work is that the Federal government pays a private company to manage your Medicare benefits. The private companies are required to offer a minimum level of coverage, then they can offer additional coverage on top of that. With these plans, ALL of your benefits are provided through the private company, NOT through Medicare. The private company pays INSTEAD of Medicare. While these plans can be a good option for some, a South Carolina Medicare Supplement plan is often a more stable and comprehensive choice. Changes to the Medicare Advantage plan marketplace in 2009-2010 and beyond promise to make these plans even less viable of a choice. Projected rate increases for the Medicare Advantage plans in 2010 range anywhere from $30-70/month. In addition, due to cuts in Federal funding for this program, most anticipate a drop in the variety and level of benefits. One major factor in disenrolling from Medicare Advantage and returning to "original" Medicare + South Carolina Medicare Supplement plan is your health. If you are not in good health and not in an Open Enrollment/Guaranteed Issue period, you may not be able to qualify medically for a Medicare Supplement plan. In other words, you may be "stuck" with a Medicare Advantage (or just Medicare). What this means for the average over-65 individual is that you cannot wait until you are in poor health or have ongoing health issues to look at moving from Medicare Advantage to Medicare Supplement - it is something that must be done when you are eligible (Open Enrollment/Guaranteed Issue) or while you are healthy. Once you decide this is the option for you (leaving Medicare Advantage to get a Medicare Supplement), the first step is disenrolling from the Advantage plan. You will likely only be able to do this if you are in a SEP (Special Election Period), AEP (Annual Election Period), or OEP (Open Enrollment Period). This should be done first but done for a future date so you will NOT have a lapse in coverage - we usually recommend at least 2-3 weeks in advance. The plans (and Medicare) can take quite a while to confirm disenrollment and send you the actual disenrollment notice. In other words, if you are disenrolling for a Jan. 1 effective date, make sure you notify the company as soon as possible. Once you have done that step, you can apply for new coverage through a Medicare Supplement. In some instances, you will be required to send the new company proof of disenrollment from the Advantage plan (that's one reason to do that step first). Your new Medicare Supplement can begin the same day that the Medicare Advantage coverage ends. Secure Medicare Solutions is a leading, independent brokerage that covers the states of South Carolina, North Carolina, Georgia, and Tennessee. We are a brokerage, so we work with all of the prevalent companies in these states to ensure that you get the best coverage for the best available rate. You can get more information about Medicare supplement plans at South Carolina Medicare Supplements Insurance and Plans, and you can get quotes for all of the companies emailed directly to you by going to South Carolina Medicare Supplement Insurance Quotes. |
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