There’s are several reasons some seniors prefer to enroll in a Medicare Advantage plan than original Medicare.

For one thing, Medicare Advantage plans cap your annual out-of-pocket spending, while original Medicare does not. When you’re on a fixed income that consists largely of Social Security, that’s an important thing.

Image source: Getty Images.

Plus, Medicare Advantage plans commonly offer benefits beyond what original Medicare covers. Original Medicare won’t pay for dental cleaning or eye exams, which means you’ll need to spend a portion of your Social Security check on those costs or dip into your retirement savings. Medicare Advantage, on the other hand, commonly covers dental care and eye exams, along with offering other extra benefits.

It’s important to take the time to find the right Medicare Advantage plan for you. But what if you found that plan and it’s now being discontinued?

It’s not such an uncommon thing, but now you’ve got a problem. The good news is that you have options.

You can try to find another Medicare Advantage plan

If your Medicare Advantage plan is going away, you’ll typically be eligible for a special enrollment period that starts two months before the plan ends and lasts until one month later. During this time, you can choose another Medicare Advantage plan.

In doing so, be sure to look out for:

• Plan costs, including premiums, deductibles, coinsurance, and copays
• Plan perks, including supplemental benefits like gym memberships
• Plan networks so that you can continue to see your preferred providers

A good way to get started with your search is to use Medicare’s Plan Finder. This tool allows you to enter your ZIP code and a list of medications you take. From there, you’ll be given different plan options, along with their respective costs, so you can compare your choices easily.

You can go onto original Medicare

If you can’t find a suitable Medicare Advantage plan to replace your old one, you can always move onto original Medicare. From there, though, you’ll need to buy a Part D drug plan to round out your coverage.

Another important thing to look into is Medigap, or supplemental insurance. You may not be familiar with Medigap if you’ve been enrolled in a Medicare Advantage plan, since Medigap isn’t compatible with these plans. But since original Medicare does not cap your out-of-pocket costs on an annual basis, it’s a good idea to get Medigap coverage to help defray some of the expenses you might incur.

During your special enrollment plan following the termination of your Medicare Advantage plan, you can generally enroll in Medigap without the risk of being denied coverage or charged higher premiums due to factors like pre-existing conditions. If you wait beyond that period, a Medigap plan might cost you more.

You should know that Medigap will not replace your Medicare Advantage plan in terms of covered services. Put another way, Medigap will not pay for services not covered by original Medicare. So don’t count on Medigap to pick up the tab for a dental cleaning, for example.

The role of Medigap is to pay some of the out-of-pocket expenses Medicare enrollees face. A Medigap policy might cover:

• Your inpatient deductible for a hospital stay
• Daily coinsurance for a longer hospital stay not covered by your initial deductible
• Coinsurance for Part B services

Don’t panic, but start looking

Losing your Medicare Advantage plan can be nerve-wracking. Rather than panic, try to see it as an opportunity to find even more suitable coverage.

But don’t delay. You have a limited window when you’re eligible for the benefits that come with having a special enrollment period. So it’s important to start looking for replacement coverage right away.

The Motley Fool has a disclosure policy.