Medicare Advantage plans are a great way to save money on your Medicare coverage. Sign up as soon as you’re eligible with the help of Medicare with Jake.
Initial Enrollment
You can sign up for a Medicare Advantage plan as soon as you are enrolled in Medicare. To sign up for the plan you want, you must be enrolled in Medicare Part A and Part B and live within the plan’s service area.
Initial Enrollment for the majority of Medicare beneficiaries is a seven-month period beginning three months before the month of your 65th birthday. During that time you can sign up for Medicare online through the official Medicare website, by calling Medicare or by setting an appointment with your local Social Security office.
Fifteen percent of Medicare beneficiaries are automatically enrolled in Medicare Part A. This portion of Medicare users qualifies for the health insurance program due to a disability. When you have received disability benefits from Social Security or the Railroad Retirement Board for at least 24 months, Social Security signs you up automatically for Medicare benefits. Medicare Part B is not added or can be taken off because it comes with a premium for all beneficiaries.
Disabled beneficiaries who are automatically enrolled can choose to add a Medicare Advantage plan once they are enrolled in both Part A and Part B. They can do so during Open Enrollment.
Annual Election Period/Open Enrollment
The Annual Election Period, also called Open Enrollment, comes every year from October 15 to December 7. During this time you can add, drop, or switch Medicare Advantage plans.
People who already have Medicare Advantage plans can take advantage of the Medicare Advantage Open Enrollment Period, which is from January 1 to March 31. During this time they can drop or switch plans.
Why Join Medicare Advantage?
Medicare Advantage plans offer you an alternative to Original Medicare. As you well know, Medicare has many gaps in coverage, including for dental, vision, and hearing care and prescription drugs. Advantage plans make up for these deficiencies because they can offer additional benefits to their plan members. Plans with prescription drug coverage have their own designation as Medicare Advantage Prescription Drug (MAPD) plans.
Another benefit of Medicare Advantage plans is that they all have out-of-pocket maximum limits, while Original Medicare does not. In this way, they can save you from overspending for your health care coverage.
Wanting to join a Medicare Advantage plan? Medicare with Jake can match you with the plan in your area that best suits your needs. Contact us today to schedule an appointment.
