Medicare Insurance Plan in Salt lake city

Posted by jennah kellen on July 8th, 2019

There are many details of Medicare which can be confusing. Rocky Mountain Insurance is here to make it easy and understandable. We help you choose the plan that works best for you.

• Those 65 and older likely qualify
• Those younger than 65 with disabilities of 24 months or more may qualify
• People with end stage renal disease or other chronic conditions may be eligible

Timeline Of Medicare Enrollment Periods:

• Initial Enrollment Period (IEP): 7-month period. Begins 3 months before you are eligible for it (i.e., turning 65), and ends 3 months after your eligibility begins.
• General Enrollment Period (GEP): Jan 1 to Mar 31
• Annual Election Period (AEP): Oct 15 to Dec 7
• Special Enrollment Period (SEP): Anytime during the year
• Medicare Advantage Disenrollment Period (MADP): Jan 1 to Feb 14

Special Election Periods

There are special situations where you may qualify to enroll in a plan, or change the plan you may be currently enrolled in, even when enrollment has ended.  Some of those situations include the following:

• When you turn 65
• When you move out of your plans service area
• When you lose coverage

• • No longer eligible for Medicaid
  • Leave coverage from your employer or union
  • Involuntary lose other drug coverage
• When you are eligible for both Medicare and Medicaid
• When you qualify for extra help with your prescription drug coverage
• When you have a severe or disabling condition such as Cardiovascular disease or diabetes and there’s a Medicare Chronic Care Special Needs Plan (SNP) available in your area
• When you switch to a 5-star Medicare Advantage Plan, Cost Plan, or Prescription Drug Plan

Penalties

Medicare Part B Late Enrollment Penalty

If you do not sign up for Part B when you are first eligible, or if you drop Part B and enroll later, you may pay a late enrollment penalty:

• The penalty will stay with you as long as you have part B unless you qualify for certain types of assistance with your states Medicaid or Medicare Savings Program.
• Monthly premium for part B may go up 10% each full 12-month period that you did not sign up for Part B but were eligible

Medicare Part D Late Enrollment Penalty

If you don’t sign up for Part D when you’re first eligible, you may pay a late enrollment penalty:

• Penalty in effect as long as you have Part D.
• Penalty calculated by multiplying 1% of the “national base beneficiary premium” times the number of full, uncovered months you were eligible but didn’t join a Prescription Drug Plan and went without other creditable prescription drug coverage

Medicare Advantage Plans (Part C)

What Can You Get?

Medicare Advantage Plans cover the same benefits as Original Medicare, and often more. These plans have a contract with Medicare to provide at least the same level of medical and doctor coverage and often include drug coverage and additional benefits like dental & vision benefits, fitness programs, and more.

These health plans cover all the benefits of Medicare Part A, including hospital stays, skilled nursing care and home health care, but not hospice care (which is still covered by your Part A benefit). These plans also cover all the benefits of Medicare Part B, including doctor visits, outpatient care, screenings, shots and lab tests.