A Medicare Advantage plan will get you a multitude of benefits in Kentucky. The following is what you’ll get when you sign up to a Medicare Advantage plan in Kentucky:
- You’ll receive at least the same level of benefits as Original Medicare (Part A and Part B).
- You will still be part of the Medicare program.
Number of people with Medicare Advantage plans in Kentucky
There has been an increased number of Medicare Advantage enrollees in Kentucky over the past few years. Currently over 25% of people enrolled in Medicare have a Medicare Advantage plan in Kentucky.
- There are 900,000 people who are a Medicare program enrollee in Kentucky.
- From all the Medicare enrollees, over 281,000 people are Medicare Advantage enrollees in Kentucky.
- If you are eligible for Medicare in Kentucky, then you can choose at least one of the 56 Medicare Advantage plans in
The statistics stated above include the enrollees of other Medicare health coverage.
Source: CMS (The Centers for Medicare & Medicaid Services, 2018)
What are Medicare Advantage plans in Kentucky?
Medicare Advantage (Medicare Part C) is an alternate way to receive your Original Medicare (Part A and Part B) benefits. You are not getting your Medicare benefits from a government-run program. Instead, you are getting them from a private insurance company contracted by Medicare. Every state has Medicare Advantage plans and the same rules apply.
Why do you want to get your Original Medicare coverage from a Medicare Advantage plan in Kentucky? The following benefits listed are why a Medicare Advantage plan may fit your needs:
- You can get prescription drug and health care coverage in a single plan called a Medicare Advantage prescription drug plan.
- There are extra benefits included in many Medicare Advantage plans like routine dental, hearing, and/or vision.
- There are some Medicare Advantage plans that have free monthly premiums. Please note that since you are still enrolled in the Medicare program, you must pay the monthly Medicare Part B premium. This rule goes for whatever Medicare Advantage plan you sign up to.
- With each Medicare Advantage plan, you get a yearly out-of-pocket spending limit. Unlike Original Medicare (Part A and Part B), a Medicare Advantage plan will cover the rest of your expenses after you hit the out-of-pocket limit. Every plan has a different out-of-pocket limit and the limit is subject to change each year.
In Kentucky, you can choose from various types of Medicare Advantage plans. Please note that some plans may not be available in the area you live in.
When can I enroll in a Medicare Advantage plan in Kentucky?
There are generally certain time periods in which you can enroll for a Medicare Advantage plan. The following are the different times in which you can sign up.
- Initial Enrollment Period: You can sign up for Medicare Advantage during your Initial Enrollment Period or IEP. This time frame is when you are first eligible to Medicare. If you want to sign up for Medicare Advantage in Kentucky, you have to enroll in Original Medicare (Part A and Part B). If you decide to postpone your enrollment in Part B, then you can’t sign up for Medicare Advantage in Kentucky. If you want to know more about when to sign up for Medicare Advantage, then read here.
- Annual Election Period (AEP): This is another period you can enroll in a Medicare Advantage plan. This period starts on October 15 and ends on December 7 every year. You can also drop or switch a Medicare health plan during this time period.
- Special Election Period (SEP): You may qualify for a SEP to sign up for a Medicare Advantage plan. Generally, you can qualify if you or your spouse’s group health plan ends. For instance, you can qualify if your employment ends, the coverage ends, or you move out of the service area.
This article is for information purposes only and does not describe the complete description of the coverage. If you want more information then contact the plan. There are costs associated with the plan like restrictions, limitations, and copayments. Every year things like co-payments, co-insurance, premiums and/or benefits can change at the start of every year.