We’ll look at the coverage in just a moment, but first, let’s look at how you can purchase this plan.
Going through private insurance companies means that there is no set price for Advantage plans.
You could get roughly the same coverage for wildly different prices if you are looking at two different insurance companies and their Advantage plans.
This is why you will want to compare prices and coverage on each plan. Source as many quotes as you can and see who has the best price. At the same time, look at what is being covered and how it compares to what you need.
Once you sign up for an Advantage plan, you are basically locked into it until the term is up ( usually a year ).
If you are 65 and a US citizen, then you are likely eligible for Medicare Advantage. If you are not sure if you meet the eligibility requirements, you can always talk to an insurance agent or Medicare directly about what it takes to qualify.
Medicare Advantage Plan Enrollment
The best time to enroll in a Medicare Advantage plan is three months prior to turning age 65, up to three months after your 65th birthday. This is because you are most likely in what is called your “initial enrollment period”.
If you enroll during this time, your coverage will begin the same day that your Medicare begins.
If you decide to wait to enroll in an Advantage plan, and perhaps enroll in a Medigap plan instead, then you may not switch back to a Medicare Advantage plan until the Medicare Open Enrollment period each year. This period is October 15th – December 7th.
During this time period you may switch over to a Medicare Advantage plan, and your coverage will begin on January 1st of the following year.