|  | Healthcare Industry | Health Insurance

When to Apply for Medicare Advantage Plans?

When you are eligible to receive Medicare benefits, you can choose between two different ways of receiving all the coverage you need. You can add to your normal Medicare coverage, Medicare Part C, which is Medicare Advantage Plans. The Medicare handbook "Medicare and You" explains how you can choose your Medicare coverage and when you should do so without being subject to penalties.

  1. Medicare Options

    • The 2011 Medicare handbook "Medicare and You" explains how Medicare coverage works and which options will fit your needs in the best way. You can choose to stay with Medicare Part A and Medicare Part B and add more coverage through Medicare Part D (prescription drug) and Medigap. However, you can choose to buy Medicare Part C, which includes Part A and Part B, and if needed, you may add a prescription drug plan. If you choose to apply for Part C, you cannot (and do not need to) buy Medigap.

    Choosing Part C

    • You should apply for Part C when you want to have Part A and Part B coverage all under one Medicare plan. You do not need to apply for Part C if you have Part A and B, but you can do so if you wish. If you have Parts A and B and a prescription drug plan plus Medigap, you do not need to buy Part C. However, you should consider applying for Part C when the services you need are not completely covered in Parts A and B plus all the other options Medicare gives, when the premium you would pay for a good Part C plan is about the same as the premiums you are paying for less coverage with the plans you have when the doctors you want are not included in Parts A and B coverage, and when Part C plans are more convenient for you because of localization and the services offered in your area.

    Part C Eligibility

    • To be eligible to enroll in Part C, you must first have Medicare Part A and Part B. You also have to live in the same area where Part C plans are offered. You cannot join a Part C plan if you have an end-stage renal disease (ESRD) condition. If you have other medical coverage, such as group insurance, you need to talk to your employer about its rules. Some companies do not allow you to join a Medicare plan if you have a group insurance, and other companies complement Medicare plans. You cannot have a Medigap policy with Part C, and you have to pay monthly premiums.

    Part C Enrollment Period

    • You can enroll in a Part C plan when you first become eligible for Medicare and after you have Medicare Part A and Part B. You first become eligible during a period of seven months, which corresponds to the three months prior to your 65th birthday, the three months after it and the actual month of your birthday. You can also apply for a Part C plan if you have Parts A and B due to a disability.

Health Insurance - Related Articles