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Tennessee Medicare
For Medicare beneficiaries in Tennessee, the amount of available options for insurance coverage can be staggering to comprehend. There are 3 main categories of insurance, that coordinates with Medicare, in addition to indemnity style coverage and critical illness or dread illness coverage that can coordinate with the plans, which can make the entire picture very difficult to see. We have tried to put together a collection of explanation of what the different options are and how they work, so that you can get a clearer picture of your options before making this important choice.
Medicare Plan Options
In Tennessee, there are two basic types of medical coverage, plus prescription coverage
that can be included in the case of Medicare Advantage plans.
The three types of coverage
you will see are:
- Medicare Supplement: Private coverage that pays after Medicare
- Medicare Advantage: Private coverage that takes the place of Medicare
- Medicare Part D: Private coverage for prescription drug costs
Tennessee Medicare Supplement
Tennessee Medicare supplement insurance is a type of insurance where medicare remains your primary coverage, and the supplement insurance pays the deductible and copayments left over after medicare has paid, for all medicare A and B approved services.
Tennessee Medicare Advantage
Tennessee Medicare Advantage is a federally regulated program where you opt out of medicare coverage and allow a private company to take over your medicare coverage instead. Most of these plans resemble traditional major medical insurance more than the medicare A and B program.
Enrollment Periods
This is one of the most confusing aspects of Medicare in general. Usually at age 65 you will automatically be enrolled in Medicare part A and B, unless you have already been awarded them by disability or do not qualify. If you are working and still have insurance from work, it will save you money on your premiums to opt out of part B, however if you have significant medical costs it might not always be the best option. The coverage can coordinate to reduce your out of pocket costs.
When you first receive Medicare part B and again at age 65, or up to three months before or after, you are in a guaranteed issue period for all Medicare products. You can enroll in a Medicare Advantage plan, Medicare Supplement, or Part D plan with no underwriting for medical conditions. You also do not have to wait for a specific time of year in order to enroll. After this period has ended, there are specific times you can make a change depending on type of insurance, and different rules for what information the insurance company is allowed to consider.
Tennessee Medicare Supplement enrollment periods
You can always change Medicare Supplement plans year round in Tennessee. However, depending on your specific medical conditions insurance companies do not have to allow you to enroll. A good rule of thumb is that most companies look at the last 2 years for major medical events, such as cancer or heart attack. It can vary some between different companies, but usually there is always a company available to obtain coverage from unless you have very serious terminal illnesses or a treatment already known to be needed that has not been performed. Certain events also grant guaranteed issue periods, such as involuntary loss of a Medicare Advantage plan or loss of insurance coverage because of a move into a new area where your plan is no longer available.
Tennessee Medicare Advantage and Part D enrollment periods
Medicare Advantage and Part D have similar enrollment rules and periods. Typically if you are not in a Special Election Period (more on this below), you have to change during the Annual Election Period. This period is near the end of the year, and most recently it has been adjusted to start in mid-October and end in mid-December. You can enroll one time in a Medicare Advantage plan, and one time in a Medicare Part D plan when you first become eligible for Medicare Part B.
Now, here comes the confusing part. Special election periods can be granted for over thirty reasons. Some are
quite uncommon, some are very common but a common theme is that even people who have a Special Election Period for
Medicare Advantage or Part D do not realize they have them.
Common Medicare Special Election Periods can Include:
- Moving out of Service area
- Being eligible for Medicare Extra Help or QMB or SLMB Assistance
- Moving into or out of a Nursing Facility
- Involuntarily loss of Coverage
Any of the reasons listed above will grant a period of 63 days where changing is permitted no matter the time of year.
Tennessee Medicare Quotes
To get a quote today, give us a call at 866-314-2747 or visit our Tennessee Medicare Quotes page for an instant onscreen quote for a Tennessee Medicare Supplement.