Who qualifies for a Medicare Advantage plan?

To qualify for a Medicare Advantage plan you must already have Medicare Part A and Part B. Any individual aged 65 and older who currently receives Social Security benefits is automatically a part of the original Medicare program.

What does a Medicare Advantage plan cover?

For starters, a Medicare Advantage plan must cover all of a policy holder’s Part A and B benefits (hospital insurance and medical insurance) as well as urgent care and emergency treatments. In addition, many Advantage plans offer extra coverage benefits such as prescription drug coverage, preventative check-ups, and visual, hearing, and dental coverage.

How do I decide which plan is best for me?

There are many different Medicare Advantage plans to choose from, each offering their own unique package of benefits on top of their Part A and B coverage. To choose the Advantage plan that is best for you, take stock of your current health situation and look for a plan that will best address your current medical needs. For example, if you currently require certain daily medications or need to visit your physician several times a year you will want to look for a plan with both affordable premiums and enough coverage options to allow you to maintain your optimal level of health. By speaking with a licensed agent, you will be able to articulate all of your coverage needs and compare the packages offered in your area.

When can I sign up for a Medicare Advantage plan?

Medicare has certain restrictions when it comes to signing on to a Medicare Advantage plan, as well as when you can switch or discontinue your coverage. You can first join an Advantage plan any time during the 7-month window when you first become eligible for Medicare (from the three months before, to your birth month, to the three months after you turn 65), or if you are currently disabled and receiving Social Security disability you can join during the 7-month window of your 25th month of disability (three months before, one month during, and three months after your 25th month). Policy holders are also allowed to either switch or drop their Medicare Advantage coverage between the annual November 15 to December 31 enrolment period.

Do I still have to pay my Part B premiums if I am enrolled in an Advantage plan?

Yes, you will still have to pay your monthly Part B premium along with any additional premium set out by your Medicare Advantage plan. Your 2010 Part B payment will range anywhere from approximately $96 to $353 depending on income. Your Advantage premium price will vary based upon your chosen plan, and the benefits included.