Medicare Advantage Plans enrolment features and benefits
Enrolling for Medicare Supplement Plans 2018 is possible in a year at certain times and this is also the best time to get signing up for a plan. You can join any MA plan and get enrolled in Parts A and B Medicare. This will mean you are enrolled typically in Medicare Advantage Plans and doing so in these periods is helpful:
- IEP: This is a period for seven months such that it takes into account on the eligible month that is your 65th birthday month and also allows three months front and back with your birthday month on becoming eligible for the first time with Medicare. This is either to get enrolled on the 65th birthday month or on collecting disability benefits on the 25th
- Part B: After the normal enrolment period, it is outside the time and it means if you delay getting Part B enrolment in the SEP as you are having insurance based on your job, then there is no penalty on becoming Medicare eligible. You are allowed to enrol without penalty in Medicare up to a period of eight months after losing the coverage from the job. Enrolling in Medicare Advantage plans means you have signed for Part A and B coverage.
- GEP: The period between January to March in every year is the time you can sign for Medicare, if you did not sign on becoming eligible. Thus, the coverage will start only from July 1. You may sign up from April to June for Medicare Advantage plans, once you sign during GEP for parts A and B.
The period of October 15 to December 7 is a period every year when you can switch to new coverage. This is the time you can consider picking a new Plan of Medicare Advantage plans or consider switching from Original Medicare. In fact, you can also change the coverage of Part D at this time.
Note: If you suffer with ESRD, you can join MA plan in case there is special needs plans accepting ESRD people. If so, you can keep your plan active in case you enrolled earlier before developing ESRD.
Medicare Advantage plans change each year their benefits with Medicare. The benefits, pharmacy network, drug formulary, provider network, copays, premiums and coinsurance keep changing every year. Remember, if you join a MA plan considering a benefit this year, the benefit may not be available if plan changes and if so you can switch to another plan seeking better benefit.