The different Medicare plans all have specific times of year in which you can sign up for them or enrollment periods where you have a limited window in which to apply for the plan. We are going to discuss the various plans and the enrollment periods for them, and that can help you determine when you should be signing up. Medicare enrollment for 2020 may be available sooner than you think, so read on to find out when you can sign up for the medical insurance plan you need.
Basic Medicare Enrollment
The base Medicare plan, known as Original Medicare, is going to be available to you as soon as you turn 65. You can sign up for it then, and it will include coverage for you for both Medicare Part A and Part B. These cover inpatient and outpatient services for you, leaving you some deductibles and copayments to pay, but providing some great coverage on common, often necessary expenses.
You may not always have to wait until you are 65 to sign up for a Medicare plan. In some cases, people will be able to sign up earlier. These are usually instances where that person has some sort of qualifying medical condition. Disability and any medical condition that qualifies you for disability will get you into Medicare’s coverage program early and ensure you are automatically signed up for Medicare. You will often be automatically signed up once you reach age 65, but you can manually apply as well, if that did not happen. There will be a late fee applied for anyone who applied after their eligibility period. The late fee usually comes in the form of a 10% higher premium than what you would typically have to pay.
Medicare Advantage Enrollment
Advantage plans are also called Medicare Part C. These cover not just Medicare parts A and B, but they also cover all urgently needed care and any emergency care services you use. In many cases, Part C plans will also cover the cost of prescription drug plans and/or routine checkups. They offer the highest potential coverage of any Medicare insurance plan, and you can sign up for them once you turn 65. If you are eligible for Medicare, then you are also eligible for Medicare Advantage.
Advantage plans can be applied for starting October 15th. This is when the Open Enrollment period begins, and it will last until December 7th. If you manage to get your application in during that period and you are approved, then you will start to receive coverage from January 1st the following year. The coverage will last you for a full year.
Medicare Supplements Enrollment
Supplement plans provide you with a six-month enrollment window. This begins three months before your 65th birthday, and it will end three months after you turn 65. You can apply if you are eligible for basic Medicare. You have to apply through private insurance carriers. These companies sell Supplement plans at whatever rate they wish, so be sure to use our site to compare prices when you are looking for supplemental coverage. Unlike with Original Medicare enrollment for 2020, enrolling later on for a Medicare Supplement plan is not going to come with a late charge if you apply after the initial eligibility period.
Medicare Supplements are also known as Medigap, and these will cover deductibles, copayments, coinsurance, and other medical expenses that are not covered under Original Medicare. There are eight main plans to pick from, and we offer a way to source prices on these and compare them so that you can get a good deal. Search for the plan you want on our site to see the rates.
Medicare Part D Enrollment
The prescription drug coverage of Medicare Part D can cover you for both generic and brand name drugs. It can be included as part of a Medicare Advantage plan or it can be purchased on its own from a private insurer. Either way, you will be getting a drug coverage plan that is unique to that private insurance company.
Part D offers tiered coverage. It comes with four tiers that each offer a different level of coverage. The generic drugs tend to be covered the most, with name brand drugs getting the least coverage. You will still need to pay for some of these drugs, but the powerful coverage provided by Part D can be very helpful in decreasing your medical expenses.
You can enroll in Part D when you reach age 65 and are signed up for Medicare. This plan is compatible with most medical insurance plans, but you can’t have both an individual Part D plan and a Medicare Advantage one at the same time. Until you have basic Medicare providing you with active coverage, the Part D plan will not offer you any coverage. Make sure you have appropriate healthcare policies in place before you sign up.
Enrolling in Medicare
Medicare plans are designed for seniors primarily. If you are not sure if you qualify for these plans or you want to know what your options are, then please give us a call. We would be happy to assist you in any way that we can. If you miss your enrollment window, then you should know that there are other options available to you.
You should be aware that the eligibility requirements may change, as may the enrollment windows for various plans. You can use our site to stay up to date on this information and to make certain that you are applying at the right time.
Keep in mind that most of these plans have a one-year term. When that is over, then you will have to consider Medicare enrollment again. The Medicare enrollment 2020 rules may not always stay the same, and the price you paid to enroll in a plan may change as well. Check those rates before you renew your coverage, and use our site to find the right plan at the right price.
Compare Medicare Advantage for 2020