Once the person turns 65 years of age, he/she is likely to face age related health issues, for which it becomes crucial to stay adequately covered. People at this age qualify for the initial Medicare Enrollment period. During this time, they are eligible to buy 2019 Humana Medicare Advantage plans without requiring to give any answers related to their health. Seniors are likely to get only a single Enrollment period which begins 3 months prior to the month of the Medicare eligibility and finishes 3 months after eligibility month. The eligibility month is stated to be the month that the person turns 65 and become eligible to avail Medicare.
How initial enrollment period can be beneficial?
Initial enrollment period has been stated to be a wonderful opportunity for seniors to get hold of the much needed Medicare health insurance This is because, insurance providers tend to use medical underwriting to determine acceptance of the application or not. The person is free to purchase any of the Medicare Advantage plans during the Initial Enrollment period that is available in the region. Insurers cannot ask these clients any health related questions or deny issuance of the policy.
What can be availed?
It is necessary to note that people suffering from disability and at age 65 having Medicare are eligible to avail the 2nd Initial Enrollment Period. Similarly, anyone is eligible to avail Medicare at age 65, when applying for the initial time. In majority of the cases, Medicare Advantage plans tend to pay up for what is not covered by Medicare at the doctor’s office and hospitals. But it does not cover most prescription drugs.
It is important to enroll with Medicare Prescription Drug policy to get drug coverage. It is also called Part D and is a voluntary, separate insurance which when availed can help reduce out of pocket expenses when buying prescription drugs. Private insurance providers do offer Part-D drug plans with Medicare Advantage plans.
Even though Part D is considered to be ‘voluntary’, upon being eligible for Medicare, there are consequences to be faced for not enrolling with authorized drug plan. The penalty can be approximately 32 cents/month for the months when enrollment is not done. Penalty is regarded to be lifetime carry.
To determine getting the best available plan, it will be useful to compare the prices and benefits of the different Medicare Advantage plans. This is because, all advantages are standardized and the benefits and plans offered by different companies are the same.