Medicare Advantage (Part C) plans replace your Original Medicare coverage. There are different types of plans sold by private insurers like Humana, Aetna, Anthem, etc., and all Advantage plans will cover ALL services under Medicare Parts A and B—and even provide additional coverage.
Consider Medicare Advantage as an “all-in-one” alternative to Original Medicare.
Why Medicare Advantage?
Types of Medicare Advantage Plans
Common types of Advantage plans available in Missouri are:
- Health Maintenance Organization (HMO)
- Preferred Provider Organization (PPO)
- Private Fee-for-Service (PFFS)
- Medicare Medical Savings Account (MSA)
- Special Needs Plans (SNPs)
InvoBH can help you find a plan that fits your budget.
When to Enroll
During select times of the year, you can join, drop, or change from one Medicare Advantage plan to another. When you’re first eligible for Medicare, you can join an Advantage plan with or without Part D coverage. This is known as your Initial Enrollment Period (IEP), which is the 7 months surrounding your 65th birthday.
The Annual Enrollment Period (AEP), is October 15 to December 7 each year. During this period, you can join, change, or drop a Medicare Advantage plan. Coverage will become effective on January 1.
Next, the Medicare Advantage Open Enrollment (MAOEP) is January 1 to March 31. You can switch to a different Advantage plan or go back to Original Medicare and enroll in a separate Part D plan, once, during this time.
Finally, certain events in your life trigger a Special Enrollment Period (SEP) where you have two months to join a Medicare Advantage plan. Since SEPs are unique to the individual, it’s best to contact InvoBH to see if you qualify.
What Else You Should Know
All Advantage plans set an annual limit on your out-of-pocket costs, known as the maximum out-of-pocket (MOOP). This limit is $7,550 in 2021, although programs may set lower limits.
Under Original Medicare, there’s no limit on your spending. That’s the appeal of Medicare Advantage; you can save thousands each year on healthcare costs.
Don’t Settle For Anything Less.
Get The Coverage You Deserve!
Interested in Medicare Advantage? Call InvoBH
You deserve to get the most out of your Medicare coverage. Medicare Advantage plans are a good option if you’re looking to protect your out-of-pocket costs and have access to additional benefits. To learn more about your options, or to compare plans in Missouri, call InvoBH at (314) 669-4308.