Are You Medicare Eligible?

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Are You Medicare Eligible?

In most cases, you’re Medicare eligible at age 65. Most people don’t have to pay a premium for Medicare Part A. If you or your spouse have not been paying Medicare (FICA) taxes for at least 10 years, you’re still eligible to buy Part A coverage but will need to pay a premium which varies based on work history.

Are You or a Loved One a Medicare Eligible Beneficiary?

If yes, here’s what you need to know about Medicare’s upcoming Annual Election Period.

The Medicare Annual Election Period is fast-approaching and begins on October 15. Have questions about the Annual Election Period, the process, who qualifies, and – above all – what it all means? Here are some insights.

What is the Medicare Annual Election Period?

The Medicare Annual Election Period (AEP) is the time when Medicare beneficiaries can make the switch from Original Medicare to a Medicare Advantage plan, switch to a new Medicare Advantage plan from an existing plan, join a Medicare Prescription Drug Coverage plan, or switch from a Medicare Prescription Drug plan to another. The AEP runs from October 15 to December 7.

What is a Medicare Advantage Plan?

Medicare Advantage plans, sometimes referred to as “Part C” or “MA Plans” are offered by private insurance companies approved by Medicare. You will receive your Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) coverage from the Medicare Advantage plan and not original Medicare. If you join a Medicare Advantage Plan, you still have Medicare, it is just administered differently.

Medicare Advantage plans typically offer lower out-of-pocket costs than traditional Medicare in exchange for members using in-network doctors and hospitals. In addition, they eliminate the need for additional insurance coverage like a Medicare Supplement plan.

 
RELATED: Health Insurance Terms Explained: Deductible and Out-of-Pocket Maximum

Who Qualifies for a Medicare Advantage Plan?

Medicare Advantage plans are available for those over 65, or with a qualifying disability, who qualify for Medicare. You can join a Medicare Advantage Plan with a pre-existing condition, except for end-stage renal disease (ESRD).

Why should someone consider switching from Original Medicare to a Medicare Advantage Plan?

In most cases, a Medicare Advantage plans cover more than original Medicare and offers additional services like vision, dental and hearing aid coverage.  Medicare Advantage plans also offer long-term care not covered by Medicare, and many plans also include fitness benefits. Many of these plans also cover prescription drugs and have a $0 premium, saving the member money every month.

Having a Medicare Advantage plan simplifies coverage by centralizing Medicare Part A, gap coverage, prescription and additional benefits into a single package and out-of-pocket costs are typically lower than traditional Medicare. The bottom line is, most people save money with a Medicare Advantage plan compared to original Medicare.

How do I learn more about a local option for a Medicare Advantage Plan?

Senior Care Plus is Nevada’s only locally-owned Medicare Advantage plan.  It is the Medicare Advantage plan from Hometown Health, the health insurance division of Renown Health.

You can visit the Senior Care Plus Website to find more information or call 775-982-3158 to speak to an enrollment specialist and find out if a Medicare Advantage plan like Senior Care Plus is right for you.

This is an advertisement. Senior Care Plus is a Medicare Advantage organization with Medicare contract. Enrollment in Senior Care Plus depends on contract renewal. A salesperson will be present with information and applications. For accommodation of persons with special needs at sales meetings call 775-982-3158 and 711 for TTY. Material ID: H2960_2020_BestMedOnline_M (CMS Accepted).

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