The Medicare Advantage trial period allows you to try Medicare Advantage plans without losing your access to Medigap. During this period, you can buy any Medicare Advantage plan of choice and can even keep it for a year. If you leave the plan during that year, you will have access to a Medigap plan and won’t have to worry about being denied Medicare Supplement Insurance or charged a higher rate.
What is the Medicare Advantage Trial Period?
Everyone with access to Medicare also has the right to a Medicare Advantage trial period. The period gives you a year to try a Medicare Advantage plan to find out if it is the right pick for you. Once you are certain it’s not, you can switch back to Original Medicare and purchase a Medicare supplement insurance plan to cover the Original Medicare gaps of deductibles, copays, and coinsurance.
Two different situations will allow you to have a trial period. They include:
- Enrollment into a Medicare Advantage plan happens when you are eligible for Medicare.If you leave the plan within the one-year window period, you can still buy any of the available Medigap plans without medical underwriting.
- When you leave a Medicare supplement insurance plan and register for a Medicare Advantage plan for the first time. This time around, if you leave your new Medicare Advantage plan within 12 months, a Special Enrollment Period (“SEP”) will be open, allowing you to buy your old insurance policy plan again. If your plan is no longer available, you can buy any other plan in your area.
The Effect of Medicare Advantage Trial Period on the Cost of Medicare Plans
Yes. The trial period can affect the cost of your Medigap plan. The following factors can affect the cost of your Medicare plan;
- Health status
With the trial period, you are guaranteed a good rate, even if you may not be eligible for one.
Are You Eligible for the Medicare Advantage Trial Period?
Every new individual in Medicare can be eligible for the Medicare Advantage trial period. However, you will have to either be in your Medicare Initial Enrollment Period (“IEP”) window or sign out of a Medigap plan. The Medicare Advantage trial period has no other requirements associated with time.
The Medicare Advantage trial period allows you to try out Medicare Advantage and decide if it’s right for you.