No. If you wish to enroll in a Medicare Advantage plan (
MA or MAPD
or
SNP), you must be enrolled in both
Medicare Part A and
Medicare Part B
(refer to your Medicare ID Card to see if you are enrolled in both Part A and Part B) - however, you will not lose your Medicare Part A or Medicare Part B coverage when you join a Medicare Advantage plan.
A
Medicare Advantage plan is operated by a private insurance
company and will administer or implement your Medicare Part A and Part B benefits;
however, you do not lose your Medicare. And a Medicare Advantage plan is required to offer coverage at least as good as your basic Medicare Part A and Part B coverage - and usually provides additional benefits such as vision coverage, hearing coverage, dental coverage, and often other
supplemental benefits. A Medicare Advantage plan can also include Medicare Part D prescription drug coverage (MAPD).
A Medicare Advantage plan also has an annual maximum out-of-pocket spending limit (
MOOP) that caps your spending for Medicare Part A and Part B cost-sharing, so the MOOP is the maximum amount of money you will spend each year on healthcare cost-sharing.
If you decide to leave a Medicare Advantage plan, you will return to your original Medicare Part A and Part B coverage.
You can join or leave a Medicare Advantage plan during the annual Open Enrollment Period (
AEP) that starts October 15th and continues through December 7th or you can leave a Medicare Advantage plan during the Medicare Advantage Open Enrollment Period (
MA-OEP) that starts January 1st and continues through March 31st.
The Centers for Medicare and Medicaid Services (CMS or Medicare) approve and continue to regulate Medicare Advantage plans. If you have any questions about Medicare Advantage plan coverage, you can always call a Medicare representative at 1-800-633-4227 (1-800-Medicare).
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