The 3 Things to Keep In Mind before Purchasing a Medicare Advantage Plan
The Medicare Advantage Plan is a type of insurance generally sold by privately owned agencies that bridge the gap. The Original Medicare Plan very often fails to cover all the expenses. But for a person who just turns 65, it may be intimidating to choose the correct plan.
Several websites are there that specialize in providing accurate information regarding the Medicare Advantage Plan. These websites have contributing authors either from government bodies or consumers who have already used such plans. They try their best to educate the viewers as much as possible through their knowledge. In the article, we will make an honest attempt in educating our readers about the Medigap.
Rules are different if you are less than 65: Enroll at https://www.medicareadvantageplans2019.org
If you are less than 65 and is covered under some sort of Medicare plan due to disability, it does not qualify the person to own a Medigap Plan. The standard criteria are much more complex and in that case, the person may go for a medical advantage plan instead of Medigap until he turns 65 years of age. Once the person turns 65, the rules and regulations are much more relaxed for them.
Medigap seller may turn a person down or charge extra premium amount in case of pre-existing medical condition:
In every state, a Medicare advantage enrollment period is there which last for about 6-months. This period starts from the month the person turns 65 years of age. During this period the agency cannot turn anyone down on the grounds of the pre-existing medical condition. This is the reason why this 6 month period is often referred to as the guaranteed issue period. But once this period ends, the agency can turn any person on the grounds of the pre-existing medical condition.
The type of pricing policy one chose will influence the expense in the future:
Each of these privately owned insurance agencies follows different premium policy pattern. There are some agencies that charge premium irrespective of the age and gender. There is another premium calculating method where the insurer age is taken into consideration. The premium amount is decided by considering the age of the insurer when the person purchases the insurance. The third type of premium calculating method is quite complex. In this type of Medicare Advantage Plan premium evaluation, the premium gets revised every year as the person’s age increases. This is known as an attained-age rated method.