Medicare Advantage Open Enrollment Offers One-Time Chance to Change Your Mind: Allsup Outlines Rules for Switc...(t. In addition to the premium traditiona...),Health

Date:1/12/2009

t. In addition to the premium, traditional Medicare requires an individual to pay 20 percent of the Medicare-approved amount out of their own pocket, while Medicare Advantage plans tend to have lower, flat-fee co-pays or none, depending upon the plan; Medicare Advantage plans also tend to offer lower costs for prescription drug coverage.

Overall coverage is another factor, particularly for individuals with disabilities. Because of limited coverage under traditional Medicare, many individuals buy Medigap supplemental coverage; however, this may preclude individuals from filing claims related to pre-existing conditions during the six-month waiting period. Medicare Advantage plans are required to cover pre-existing conditions.

After Open Enrollment, Switching Options Are Limited

Between the end of open enrollment on March 31 and the start of the next annual enrollment in November, individuals can join or change their plans for only a few specific reasons. These include:

• Disability - individuals can join a plan three months before or three months after their 25th month of disability as determined by the Social Security Administration.

• Turning 65 - three months before or after the month that beneficiaries turn 65, they can enroll in a new plan.

• Moving out of the plan's service area - people moving permanently out of their plan's service area are allowed to switch plans at anytime during the year.

Source: PRWeb Copyright©2009 Vocus, Inc. All rights reserved

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