Medicare Advantage Plans

Medicare Advantage Plans

What are Medicare Advantage Plans?
 
Medicare Advantage Plans have been around since 1997. Back then the program was called Medicare+Choice (M+C). The name of the program was changed to Medicare Advantage in 2003. Medicare Advantage Plans are run by private insurance companies and they often provide additional benefits like Dental, Vision and Hearing that Original Medicare doesn't provide. 
Medicare Advantage Plans have continued to gain popularity over the years and the number of enrollments have steadily increased. A recent Kaiser Family Foundation discovered that as of 2019, over 34%, of all Medicare Beneficiaries (over 22 million) were enrolled in a Medicare Advantage Plan.
  
Kaiser Family Foundation Total 2019 Medicare Advantage Enrollments
What Doctors and Hospitals Can I Use?

When selecting a Medicare Advantage Plan, you need to ensure that your Doctors, Specialists and Hospitals are covered in network. There are two types of networks involved with Medicare Advantage Plans - Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO).

A PPO plan will generally let you see providers outside of your Medicare Advantage Plan's network, usually at a higher cost. We don't recommend a client to pick a plan that doesn't cover all of their providers as the out of pocket costs may be more than their financial means. PPO plans generally don't require referrals to see specialists and they generally don't require you to have a current Primary Care Physician (PCP).

A HMO plan generally will not cover any services outside of the network so it is very important to make sure all of your providers are covered. HMO plans sometimes require referrals to see a specialist. Many HMO plans will require you to select a Primary Care Physician (PCP) at the time of the application or one may be automatically assigned to you. 

What are My Out of Pocket Costs with a Medicare Advantage Plan?

This subject is very important as most Medicare Beneficiaries are on Social Security or a Fixed Income. Out of pocket vary for each Medicare Advantage Plan and Plans can vary on a county by county basis. This is why it is so important to work with a local resource that is familiar with the unique Plans in Charlotte, NC and surrounding counties. There are many Medicare Advantage Plans in Charlotte, NC that are available with $0 premium, $0 copay, and no deductibles. Its important to know all of your options so that you aren't missing out on any benefits that you are entitled to receive.

When Can I Enroll in a Medicare Advantage Plan?

There are two main enrollment periods associated with Medicare Advantage Plans:
  • Enroll during your Initial Coverage Election Period (ICEP)
  • Enroll during the Annual Enrollment Period (AEP)
Enroll During Your Initial Coverage Election Period

Your Initial Coverage Election Period (ICEP) is the 7 month period that starts 3 months before your 65th birthday, continues through your 65th birth month and continues 3 months after. During your ICEP, you can select a Medicare Advantage Plan. You will need to ensure that the plan you are wanting is active in your county of residence.

Enroll during the Annual Enrollment Period (AEP)

The Annual Enrollment Period (AEP) is from October 7th through December 15th every year. This is the perfect time of the year to make a switch from one Medicare Advantage Plan to another that is more suitable or if you want to move from Original Medicare. Whatever Medicare Advantage Plan you choose during AEP will take effect on January 1st. 
Interested in hearing more about Medicare Advantage Plans in your county? Complete the form below and we will contact you as soon as possible.

By submitting your information you acknowledge that an insurance agent with Safeguard Benefit Services may contact you by phone, SMS, email, or mail to discuss and quote Medicare Advantage plans, Medicare Supplement Insurance, or Prescription Drug Plans. To Unsubscribe from messaging reply STOP.


Testimonials

Share by: