If you are enrolled in a Medicare Advantage plan, you’ll typically receive a notice from your provider in September or October about changes to your coverage for the following year. These changes might include adjustments to your out-of-pocket costs or modifications to the services covered. You may also find out that some of your regular healthcare providers are no longer in-network or that new providers have been added.
However, if you find out that your Medicare Advantage plan is ending entirely, it can be concerning. This is a situation many Medicare enrollees face, but there’s no need to panic. Instead, consider these steps.
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1. Look for a new Medicare Advantage plan
Switching from a familiar Medicare Advantage plan to another one may seem overwhelming. However, finding a new plan can be easier than you think.
The Centers for Medicare & Medicaid Services provide a useful tool on their website. By entering your zip code into the Plan Finder, you can quickly see available Medicare Advantage options in your area.
When evaluating plans, it’s wise to consider their star ratings. Plans with a rating of four or five stars typically indicate high satisfaction among enrollees, while a rating below three stars may suggest quality concerns.
2. Consider transitioning to original Medicare
If you have been with a Medicare Advantage plan for years, remember that you are not locked into this choice for 2025. You have the option to switch to original Medicare, although you’ll need to secure a Part D drug plan as well.
Switching to original Medicare can come with several advantages. You might gain access to a broader network of healthcare providers and, in some cases, experience lower overall costs.
Keep in mind, though, that original Medicare does not limit your yearly out-of-pocket expenses like Medicare Advantage plans do. Additionally, finding affordable Medigap coverage for supplemental insurance might be challenging if you choose this route.
If you are worried about your Medicare Advantage plan ending, take a deep breath. You have until December 7 to finalize your new coverage. Starting your search now will give you ample time to secure a plan that meets your needs.
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