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What are the requirements for opting out of Medicare? How often can a physician or practitioner “opt out” or return to Medicare?
To opt out of Medicare:
- Participating providers are only allowed to opt out at the beginning of each calendar quarter. A valid affidavit postmarked 30 days prior to the first day of each new quarter (January, April, July, or October) must be submitted.
- Non-participating physicians and practitioners have the ability to opt out at any time. However, the Opt Out effective date must be after the date the provider signs the affidavit.
- The Opt-Out contract lasts for a two-year period beginning the date the physician or practitioner files and signs an affidavit that he or she has opted out of Medicare. Then the physician or practitioner could decide to return to Medicare or to “opt out” again.
- A private contract must be entered with each Medicare beneficiary effective when the opt-out period begins.