Medicare Advantage

Medicare Advantage is also known as Medicare Part C. Medicare firms deal with insurance companies who provide a plan to meet the basic coverage of Original Medicare, but they include extra benefits. 

Sometimes the extra benefits can be offered at no additional cost to you. This is possible since Medicare pays the insurance company a fixed amount for providing your healthcare coverage.

Medicare Advantage Benefits

Medicare Advantage plans must provide the benefits that Original Medicare does, such as lab tests, surgery, inpatient medical care, home health care, etc. However, these plans also offer:

  • Nutrition programs 
  • Fitness memberships
  • Over-the-counter drugs
  • Adult day-care services
  • Dental, hearing, and vision
  • Transportation to doctor visits
  • And more

The benefits you are eligible for can vary, depending on your area and plan providers.

Medicare Advantage Eligibility

If you are eligible for Medicare, then you are eligible for a Medicare Advantage plan. You must be enrolled in both Medicare Parts A and B before you can purchase a Medicare Advantage plan. You also cannot forfeit Part B, or you will lose your Advantage plan.

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Enrolling in Medicare Advantage

There are set times when you can enroll in a Part C plan:

Initial Coverage Election Period (ICEP)

ICEP is a seven-month period that is your first opportunity to choose a Medicare health plan. It starts three months before the month you turn 65 and ends three months after the month you turn 65. If you are under 65 and you receive Social Security disability, you are eligible for Medicare in the 25th month after you begin receiving your Social Security benefits.  

Annual Election Period (AEP)

Also known as open enrollment, the AEP is October 15 through December 7 each year. Once January hits, coverage for your selected Medicare Advantage plan will begin. During this time, you may also add, change, or drop current coverage.   

Medicare Advantage Open Enrollment Period

During this period, you can switch from one Medicare Advantage plan to another. Or, you can end it to return to Original Medicare. 

Special Election Period

Many factors can stimulate a special election period and they are unique to an individual. It’s best to speak with a licensed Medicare insurance agent to find out whether you qualify for a special election period. However, there are a few common situations, like if you move outside your Advantage plan’s service area, move into a nursing home, or qualify for additional aid, you could be eligible for this special election period. You can institute changes to your Medicare Advantage plan during this period or go back to Original Medicare. 

We Can Help With Medicare Advantage Plans

If you’re interested in Medicare Advantage plans because of the low premium, call 800-515-4031 to see what’s available in your area. We look forward to hearing from you!