Can I Cancel My Medicare Insurance?





If you’re finding that the certain limitations and extra expenses dealt by Medicare are becoming too restraining, you might be considering canceling your Medicare insurance. Even if you want to cancel your insurance, you might also be wondering if it’s even possible to cancel. Yes, it’s possible to cancel Medicare insurance, and it typically takes a simple phone call or visit to the office. However, it might be worth knowing the consequences of canceling your Medicare insurance.

Canceling

In the majority of cases, many people find that canceling their Medicare insurance is an irreversible decision. Medicare is a hard train to catch as you’re only eligible for it once you turn 65 and/or if your SSDI has basically ran out. If you cancel, you may find that it will be very difficult to get yourself back on it. This is one of the major reasons why it is advised not to cancel unless it’s completely mandatory and necessary. Instead of canceling, look around at the other available plans to see if something would better suit you. Canceling is one of the worst things you could do while on a Medicare plan and it should be one of your last resort options.

Other Insurances are Not Possible

If you find yourself to be eligible for Medicare, it may be helpful to know that no other company will insure you. Also, this is especially true if you happen to be disabled. Medicare will be the only insurance you can do business with while being technically disabled, so canceling will eventually lead to problems. The same goes for retirement. If you happen to be retired, you cannot buy anything other than Medicare.



11 Responses to “Can I Cancel My Medicare Insurance?”

  1. Gary says:

    Is there any advantage to keeping medicare if I have VA coverage? I really can’t afford the B premium. Thanks

    • David Ipsen says:

      I have been on VA insurance since also being on medicare. Is there any reason why I shouldn’t cancel it?

    • Don says:

      Does anybody respond with answers to these questions..?? I am also a Veteran who became disabled due to a back injury recently. I filed for and began receiving my SSDI a couple of years ago and they automatically took out for Medicare and I was given a card allowing me to send it in if I wanted to cancel it.

      Now I have several prescriptions and at least 4-6 appts a year at the VA but none of it has anything to do with the Medicare and I only kept it thinking if something really bad happened I might not want to become an in-patient at the VA.

      In reality though the Part B doesn’t cover 20% of hospitalization and if it happened I’d almost certainly ed up at the VA so now I want to save the $100 they deduct every month.

      But I’m only 50 now and things may change when I’m older so I want o know if I can cancel now and start again later. This article makes it sound possible but offers no advice on it other than saying it’s a bad idea. But why…? I fell my situation is unique and maybe it IS or COULD be a good idea. And hard to get back on…? What about Obama Care..? WON’T we all be on something or other in a few years anyway…?

      I find this article lacking and welcome any serious comments or feedback.

      • bibi says:

        MEDICAID, not Medicare, will pay the premium for Medicare, Part B in Florida. I don’t know about other States, but it is worth calling MEDICAID office in your state and find out.
        I am also a vet and Medicaid pays my premiums.
        Good Luck.

  2. Gene says:

    I now live in the Philippines and cant use my medicare, is there a way to use it here???

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  4. Benjamin says:

    Hi..my father has now lived in the Philippines for three years and is now 91 yrs old. he has been paying the medicare premiums all that while. He will never come back to the United States. Can mediacre be used overseas? and if not it certainly would make sense to cancel it and save that premium each month..Ben Jr

  5. Charis says:

    Hey Gary and other veterans. I too am a veteran retired. I found out yesterday from Tri-Care South that if I cancel my medicare I will be dropped from Tri-Care Prime and will be under Direct Care to military bases only. I can not be seen by anyone else other than VA facilities. This was good news for me because I also found out my children will “remain” on Tri-Care prime. I will be able to go to the VA clinic here in town and still go to the base to receive my medication with no fees or penalities to me for canceling. For me, it was not financially wise for me to stay with Medicare and pay $100 a month out of my SSA disability “just for me.” For those who aren’t veterans, I’m not aware of other options to receive care somewhere else. I hope this helped.

  6. Ed says:

    In this day and age, you can’t have enough insurance. I’m a veteran in the VA Healthcare system and I’m also on Medicare and find that having both is very comforting. I’m 65 and in good health so I’ve had no major issues. I just feel more comfortable co-managing my VA benefits and Medicare. There may come a time when I have to be hospitalized and with Medicare paying 80%, I can always opt to go to a VA hospital for full coverage. Doing it this way, I do have to manage and coordinate my VA care with my Medicare because the two have nothing to do with each other. Also, if I needed to go to an emergency room, I can go to any hospital with Medicare. The closet VA hospital is 40 miles away so if the emergency is dire, I would want to go to the closest ER. I know that Medicare is $100/month but when I think of the combined benefits I have with both the VA and Medicare, it seems like a small price to pay for what amounts to TOTAL medical coverage. There are a lot of people out there who would do anything for all that coverage.

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  8. Mor says:

    hi i had just enroll in medicare part A not too long ago and find out that i am paying way too much for premium and now i want to cancel Part A. Is it possible for me to cancel only part A. How do i go about that?? please help.