One of the options a Medicare beneficiary has as a resource to tackle Original Medicare’s Coinsurance, Copays, and Annual Deductibles is through the use of a Medicare Advantage plan, also known as Medicare Part C.
They generally have additional benefits and services Medicare does not cover, such as:
Medicare Advantage plans provide an affordable option to reduce the exposure to Medicare’s copays, annual deductibles, and 20% coinsurance. By selecting a Medicare Advantage plan, the insurance company becomes your primary insurance, and by doing so, it has very distinct advantages and disadvantages, such as:
Advantages:
Disadvantages:
Medicare Advantage Plans Are Available As An HMO or PPO.
HMO – Health Maintenance Organization:
PPO – Preferred Provider Organization:
Choosing a Medicare Advantage plan does not mean a person is bound to the Medicare Advantage plan selected indefinitely during their Initial Enrollment Period. There are enrollment timelines when a person can change their coverage if needed or wanted.
Medicare Advantage Plan Enrollment Timelines.
Annual Election Period Oct 15th – Dec 7th: Compare And Find The Best Plan For The Next Calendar Year.
Coverage Changes One Can Make:
Open Enrollment Period Jan 1st – Mar 31st: Set Aside For People Enrolled In A Medicare Advantage Plan.
Coverage Changes One Can Make:
Lock-In Period Apr 1st – Dec 31st: No Plan Changes Allowed Unless A Qualifying Event Creates A Special Election Period.
Such As:
Peyton CO
Colorado Springs CO
Denver CO
Fort Collins CO
Mesa County CO
Grand Junction CO
Pueblo CO
Greeley CO
Boulder CO
Insurance Advisors understands that every client’s needs are different. We are a leader in providing no-cost, unbiased information about Medicare insurance-related issues.
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