Medicare and Medicare Advantage plans, right from its introduction in the market has been evolving with time. Hence, those trying to avail it for the very first time are likely to find it confusing.
Quick enrollment guide
When it comes to availing Medicare & Medicare Advantage plans, it is necessary follow the below mentioned guide.
- Medicare Part A enrollment is fairly easy, where active participation is not required. On reaching 65 years of age, the person gets enrolled automatically into the program, if self-elected for receiving railroad retirement disability or social security. In case, holding out on social security receipt, then filing an application is quite easy. Visit the government site offering Medicare information or call up the official to know about the same.
- Part B Medicare is a plan where participants enroll automatically once they become eligible. Medicare Part B is optional and also declined. Monthly premium needs to be paid towards coverage. If social security is not received from government or the person suffers from kidney disease, then application for coverage is a must.
- If getting enrolled at the time of open enrollment period, then penalty is not required. For Part B to be active during open enrollment period, the participant has time from 3 months prior to turning 65 and 3 months after the birthday. In case, the insurance is declined previously or after this, then there is faced 10% increase in plan for 12 month period. Participants get covered under different group health plan, where the person has until 8 months, after which coverage terminates for Part B Medicare open enrollment.
- Instead of Part A, B & 2019 Humana Medicare Advantage plans, there takes place Medicare Advantage plan. The person is free to avail this plan or discontinue Advantage program during coordinated annual enrollment period, between 15th November and 31st Part A & B of Medicare enrollment is done via Medicare direct. But Advantage plan does require enrollment to be done via private companies offering the plan.
- Enrollment with Medicare coverage is a must to purchase Medicare Advantage plans. Medigap enrollment starts on 1st day of initial full month of the person turning 65 or enrolled with Medicare Part B which ends after 6 months. The insurance company waives all exclusions during this period like pre-existing conditions, to accept all participants.
With this basic enrollment information, the senior can take well educated and clear decision to derive government offered healthcare benefits.