Who can enroll in the Medicare Advantage Plan?
The individual is eligible for availing Medicare insurance plan, but then what next. There are present few choices to be made. Trying to insure with Medicare in itself is said to be an option, however, the person is likely to be subjected to few potentially higher unpredictable expenses. The other option here would be to purchase Medicare supplement, in case affordable. The third option that exists is to try enrolling in Medicare advantage plans in 2016.
Trying to enroll in this particular plan type has been termed to be a wonderful choice for most of the senior citizens for numerous reasons. However, it is stated to be not a great choice for every person. This is because, who may enroll in Medicare advantage plans completely depends upon individual circumstances. Therefore, the person might not expect to come across a plan, which necessarily is regarded to be the best suited for everyone. Also, the individual might consider for the Advantage Plan, in case, the following criteria are met.
- Having limited budget: Limited budget might come into effect in several ways. Firstly, the person might consider enrolling, since he is likely to receive benefits from original Medicare, however, have advantages of optimum out-of –pocket amount. In case, coverage is availed via original Medicare, then the person would not have cap on his share of expenses on covered services. Hence, just 20% of the outpatient expenses alone might make the person to deal with budget busting expenses. The other reason for limited budget could be because of Medicare Supplement premiums being very high.
- Requiring additional benefits: Medicare advantage plans tend to include all benefits of Part A and B. However, private insurance providers offering such plans might include advantages which could be beyond what is normally available from the original Medicare. It is quite common for policies to include drug coverage of Part D and few plans could include additional, like vision, dental, transportation, gym memberships and hearing. Medicare supplement policies may include rarely such additional.
- Requiring all-inclusive plan: In case, the individual is eager to have a plan, which includes Part D drug and medic al benefits, then Advantage Plan is to be considered. By enrolling in this plan having drug benefits, he would interact just with a single insurance provider, thereby limiting interaction with several member service departments.
- Not qualifying Medicare Supplement: If the person is entitled for Guaranteed Issue Rights or Open Enrollment Period of Medigap, then he is likely to be subjected towards medical underwriting while purchasing Medicare Supplement. Current hospital stays or pre- existing conditions might mean coverage denial.
These are termed to be few of the reasons for the person to enroll in Medicare advantage plans.