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Do You Qualify for a Medicare Advantage Plan in Lake of the Ozarks?

By February 10, 2022Insurance, Other

There are many complexities to Medicare Advantage plans in Lake of the Ozarks. If you’re wondering whether you qualify for one of these plans, or you’re curious about what it takes to enroll in a Medicare Advantage plan, we’re here to help.

What is a Medicare Advantage Plan?

Medicare Advantage plans are highly sought after in Lake of the Ozarks and for good reason. These plans have benefits that offer alternative methods for people to receive hospital and medical care from private insurance companies that have been approved by Medicare.

It’s important to note that these plans do not replace the Part A and Part B benefits you already have in place. They simply provide additional benefits to those who have the plans, such as routine vision care, routine dental care, wellness plans, prescription drug coverage, and more.

These plans aren’t automatically available though. You must qualify in order to receive the added benefits. The way to qualify can be confusing if you’re not experienced or familiar with this type of insurance.

Location Matters when Qualifying for a Medicare Advantage Plan

Before you can enroll in a Medicare Advantage plan, you must already have a base of coverage from Medicare through Part A (hospital) and Part B (medical) insurance. For the vast majority of people, this type of coverage begins when they turn 65. Sometimes, you might receive this coverage earlier if you qualify for Social Security Administration benefits.

Coverage is location-dependent too. Your Medicare Advantage plan is dependent on the specific region in which you live. If you live in the Lake of the Ozarks region, you’ll have specific service areas and designated regions where you can receive care. Because of this, it’s imperative that you sign up for a Medicare Advantage plan with a local insurance agent.

Enrollment Periods for Medicare Advantage Plans

You cannot simply walk into an insurance agency and get a Medicare Advantage plan. Each plan has a unique method to enrollment, which can make it difficult or confusing. The timing matters for these plans, so you must be aware of when you’re eligible to enroll.

When You Turn 65

When you first turn 65, you’ll be eligible for Medicare. It’s at this time that you can also opt-in to receive a Medicare Advantage plan.

Annual Enrollment Periods

Each year, there are open enrollment periods where you can opt-in to receive a Medicare Advantage plan. This period is November 15th through December 7th. Talking to an insurance agent prior to the annual enrollment period will help you prepare so that you don’t miss this window of opportunity.

Qualifying Events

Sometimes, qualifying events can open you up to receiving Medicare Advantage plans, even outside of the annual enrollment period. For example, loss of other coverage or moving out of your current plan’s service area can create an opportunity for you to add this coverage.

Talk to a Lake of the Ozarks Insurance Agent About Medicare Advantage Plans

There are many gray areas when it comes to understanding whether or not you qualify for Medicare Advantage coverage. The best thing you can do is talk to an insurance agent to know if you’re eligible to receive benefits, and which benefits are available for you in Lake of the Ozarks.

We’re available to talk. Contact us to schedule an appointment and discuss what’s available to you for Medicare Advantage plans in Lake of the Ozarks.