Medicare Enrollment 2021
There are various Medicare plans available for seniors and it is very interesting to know that they come with different enrollment periods as well. This means that there is only a limited period of time to apply for any specific plan before you can get any sort of coverage to take action. To help you understand better, we will discuss all the different plans available and their corresponding enrollment periods. The time to commence the Medicare enrollment for 2021 may just be around the corner and it is for your best interest to be aware of it in order to subscribe for your plan of choice at the right time.
Basic Medicare Enrollment
Let us start with the very basic Medicare plan otherwise known as the Original Medicare plan. You can apply for it the moment you turn 65 years old. Having it means being covered for both Medicare Part A and Part B. Medicare covers you for inpatient and outpatient care services but leaves you with some out of pocket fees to pay such as deductibles and copayments. It provides great coverage for important health related expenses.
In situations where you have a qualifying medical condition, you will not need to wait until you turn 65 though. You are able to subscribe earlier. If you do not get to subtribe earlier, you will still be automatically signed up for Medicare when you hit 65 years of age. If due to some circumstances that did not happen, you can also manually join. Keep in mind that there will be a late fee imposed for those applying beyond their eligibility period. You might get a 10% higher premium than the usual fee.
Medicare Advantage 2021
Medicare Advantage Enrollment
Advantage plans, otherwise called the Medicare Part C, cover the Medicare Part A and Part B benefits including any urgently required care or emergency treatment. This can also cover expenses incurred from prescription drug plans as well as any routine checkups. You can sign up for this particular plan once you enter the age of 65. Anyone eligible for the basic Medicare can also access these Medicare Advantage plans.
The Open Enrollment period starts every October 15th and ends on December 7th of the year. If you get approved within that specified time, you will enjoy the benefits for one full year commencing on January 1st the following year.
Medicare Supplements Enrollment
Medicare Supplement plans, often called Medigap plans, cover you for copayments, deductibles, coinsurance and other fees left uncovered by the basic Medicare. Currently, there are eight plans available and all have different extent of coverage and rates. To check on current rates relevant for Medicare enrollment for 2021, our site is free for you to use.
Medicare Supplement plans has this unique enrollment window which spans across six months. You can apply for it three months before turning 65 and the window finishes three months after your birthday. Generally, if you qualify for Medicare you are also eligible for this Medicare Supplement plan. Although these plans are designed by Medicare themselves, the act of selling is done by private health insurance companies. As such, you can expect rates to vary depending on the insurance provider. We recommend you use our site to compare plans and find the cheapest option you see that matches your needs. With these plans, you do not get charged with a late fee if you apply later than the prescribed period.
Medicare Advantage 2021
Medicare Part D Enrollment
Medicare Part D encompasses the prescription drug coverage. You get support for the costs involved in buying either generic or brand name drugs. With this particular benefit, you can have it as a part of an Advantage plan or have it as an independent plan from a private insurance provider.
When talking about Medicare Part D, its coverage comes in a tiered form. It has four tiers and each with distinct level of coverage. You get the most coverage for generic medications and having the least coverage for brand name drugs. You may have to shed out small amounts for this, but it is still a very strong plan that can greatly help reduce costs related to drug purchase.
Once you reach 65 years of age and have signed up already for basic Medicare, you can start subscribing for this plan. Take note that this specific plan is well compatible with majority of the medical insurance plans. However, you are not meant to have a stand-alone Part D plan and a Medicare Advantage one at the same time.
Enrolling in Medicare
Medicare plans are structured to meet the needs of the senior population in the United States. Being introduced to so many plans and information can become overwhelming, and so if you need any help to clarify certain matters regarding your choices and eligibility, please contact us any time. We aim to provide you with all the necessary information to get the best possible decision when it comes to managing your health. If by any chance you miss the specified enrollment periods, there are still options for you. As you might be aware, change is constant may it be a very minute one or not. Eligibility rules and enrollment periods can change over time. Simply check our site to see any recent updates from Medicare or other private insurers. This way you are kept posted of any changes that may be of relevance to you. The terms for the Medicare enrollment for 2021 may change but there is always a way to work around it and still be on the advantageous side. Keep checking our site for any new announcements from Medicare if any. There will always be options for everyone. It is just a matter of checking which one suits you better and we can help you out with that.