Medicare is available as federal approved from a private insurance company. The Parts A and B of traditional Medicare is managed by the federal government. In fact, the Part C, the Medicare Advantage plans are alternatives offered by insurance companies. Visit https://www.comparemedicareadvantageplans.org/ to learn more about Medicare Advantage.
If you wish to leave the Traditional Medicare and want to get enrolled in Part C, the Medicare Advantage plan, you just have to sign up and get enrolled into the new plan. There is no need to inform the Traditional Medicare about the change you have considered.
You can conveniently switch to Traditional Medicare also from Medicare Advantage plans and this is done by notifying the plan your intention of disenrollment. Thus, the coverage gets reverted automatically to Traditional Medicare.
If you wish to return to Traditional Medicare, you may add Part D, the prescription plan for drug to get coverage. Bear in mind that you need to have a creditable coverage for over a period of 63 days so that you do not incur any premium penalty.
At the same time, switching to a private Medicare different plan is also possible. If you wish to change from the Part C or Part D Medicare Advantage plans to some other different plan of Medicare, you just have to sign up for the plan you wish to take new. It means you will be getting disenrolled automatically from the old plan. Therefore, you can consider notifying the old plan regarding the change if you wish, or else as such there is no formal requirement.
There is the advantage of having Medicare Advantage plans. This is because if you have Medicare coverage, it gets renewed automatically. There is no need for you to renew it every year. However, it is good to consider reviewing Medicare coverage so that you are sure the coverage meets your required at your affordable price.
You may consider working on the worksheet of Medicare plan review so that you assess the plan in a new window. It is right to consider primarily the four areas and they are coverage, cost, satisfaction and convenience.
In case you find the plan lacking, you can consider during Open Enrolment period to make an informed choice and this is the period between 15 October to 7 December, every year. Take this time also to review your needs of health care and make essential changes to offer the desired Medicare coverage.