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Medicare Advantage Plans

Your choice of health coverage is one of the most important decisions you ever made. That is even truer when you qualify for Medicare. Regardless if you are newly eligible or you have been covered by Medicare for years, you should know that Medicare and the plans used to cover individuals can change each year. Additionally, if your health status has changed from the year before you could be covered by a plan that could expose you to thousands of dollars of unnecessary medical expenses by being covered by the wrong plan. 

Medicare Advantage plans are similar to an HMO and PPO and provide seniors with another Medicare insurance option for coverage. These plans, also called Part C or MA Plans are offered by private companies approved by Medicare. You can join, switch, or drop a Medicare Advantage Plan at these times:

  • When you first become eligible for Medicare (3 months before you turn 65 to 3 months after the month you turn age 65).  If you get Medicare due to a disability, you can join during the 3 months after your 25th month of disability.
  • Between January 1 – March 31 of each year. However, you can’t join or switch to a plan with prescription drug coverage during this time unless 
    you already have Medicare prescription drug coverage (Part D). You also can’t drop a plan with a prescription drug coverage or join, switch, or 
    drop a Medicare Medical Savings Account during this period.

Medicare Supplement Plans

Medicare Supplement Plans or Medigap Insurance enables Medicare beneficiaries to receive supplemental health insurance coverage. You have the option to receive coverage solely from the Medicare program that you are enrolled into of choose to take advantage of Medicare Supplement Insurance where the gaps of Medicare coverage are filled such as deductibles for hospitalization, doctor’s visits or co-pays.

Medicare Part D

Medicare Part D offers prescription drug coverage to Medicare beneficiaries. One of the goals of Part D coverage is to provide beneficiaries with lower prescription drug costs. This prescription drug coverage is provided by private companies that have been approved by Medicare. Part D coverage allows Medicare beneficiaries more access to the medically necessary medication that they need. Beneficiaries pay a monthly premium for this coverage, and Part D plans do vary in cost. The medications coverage by each plan may vary as well. Part D may be added to the Original Medicare Plan (Part A and Part B). Most Medicare Advantage Plans already have Part D coverage. If not, Part D may be added to Part C coverage.

If you are a senior who is now eligible for Medicare and supplemental health insurance for seniors one of our agents would like to speak with you to let you know with you are qualified for.  As an independent insurance agent we can offer the right coverages with the personal touch you would expect from your neighborhood insurance agent. To contact us click here.

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