Best Answer: In most cases you cannot make any changes until the Annual Election Period of November 15 - December 31 with a January 1 effective date.
I would encourage you to get on another Medicare Advantage plan at that time because you probably don't want to be left paying 20% of a large hospital bill as you would with Original Medicare. When you get on another plan that will automatically dis-enroll you from Humana. Otherwise you will need to contact the company in writing that you want to dis-enroll.
If you do decide to go on original Medicare you will need to purchase a stand-alone Part D prescription drug plan. Failure to do so will result in restrictions to getting on one when you need it plus monetary penalties.
You'll want to contact a local independent agent who deals with senior plans to get the full information as there is too much detail to go into here.
EDIT FOR ADDITIONAL DETAILS:
First off, Medicare only covers part B medication, that is medication that is dispensed in the doctors office or hospital. If you need a maintenance medication that you take daily it will not be covered. If you don't have Part D you can only get
on a plan from November 15 to December 31 and when you do you have a permanent penalty added to the premium. This penalty is equal to 1% of the average premium nationwide for each month you don't have coverage. So if you are off any Part D plan for 18 months you have an 18% penalty. Say, for example, you didn't have a prescription plan and went to the doctors office today. He put you on Casodex. You'd be stuck paying the monthly $1265.00 for the rest of the year.
Original Medicare is OK for people that don't have any medical conditions and will never go into the hospital but can you be sure you're one of those people? Be aware that this year you'd have a $131 deductible for doctor visits and a $992 deductible for hospitalization (these deductible will go up next year) then you are paying 20% of the cost. With the hospital deductible if you go into the hospital in February you pay the deductible and if you go in again in July you pay the deductible again. Come November you have to go in again, another deductible. If you have a very bad year it could eat up a lot of savings.
Source(s): Independent Agent