Canceling Your Medicare Advantage Plan: A Step-by-Step Guide

A Medicare Advantage Plan is an optional Medicare health plan choice providing comprehensive coverage for hospital care and medical insurance as well as possibly covering vision, dental and prescription coverage. Different plan providers provide coverage at different premium costs as well as out of pocket expenses. You might find a more cost-effective plan meeting your needs. In this case, you need to follow proper protocol to cancel one plan for another.

Instructions

• 1

  Keep your current coverage in force by paying all premiums and co-payments on time. Submit any records for reimbursement immediately to ensure proper processing before you transfer.

• 2

  Meet with the insurance provider you are trasnferring your policy to. Provide them with all existing policy information including your policy number and insurance provider's information.

• 3

  Contact your existing insurance provider by phone or by mail, notifying it of the impending change in policy. Confirm all pending costs and reimbursements. When the new policy goes into effect, the old policy is automatically canceled.