Is It Possible to Cancel My Medicare Advantage Plan Anytime?
Yes, it is possible to cancel your plan anytime you want. However, this doesn’t mean you can apply for another Medicare Advantage Plan or Part D any time you want. If you move from a MAP to an alternative when you are not in the enrollment period and you don’t use a special election period (SEP), you will not be able to apply for a Part D plan [4] and you will face the late enrollment penalty.
The late enrollment penalty is a punishment that lasts for a lifetime. It is given to people who don’t have prescription drug coverage via Medicare or other approved programs within 63 days or more. The consequences of the late enrollment penalty [5] depends on how many days you went without coverage.