COLONIAL HERITAGE

INSURANCE GROUP

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As your independent health plan consultants, we can compare Medicare Advantage, Supplemental, and Prescription plans from dozens of private health insurance companies.

Colonial Heritage:

  •  Offers free annual Medicare insurance reviews.
  •  Helps you by considering premiums, deductibles, co-pays, co-insurance, and available options.
  •  Ensures you can take fullest advantage of Medicare by choosing the right plan.

 

New to Medicare ?

There are many details of Medicare which can be confusing to many. Health Plans in Oregon is available to help you know if you are eligible to receive Medicare.

  •  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 Medicare (i.e., turning 65), and ends 3 months after your Medicare 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.

 

Medicare Special Election Period:

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:

  •  You are turning 65.
  •  You moved to a different address.
  •  You lose your current coverage.
  • You no longer eligible for Medicaid.
  • You left coverage from your employer or union.
  • You involuntary lose other drug coverage.
  •  You are eligible for both Medicare and Medicaid.
  •  You qualify for extra help with your Medicare prescription drug coverage.
  •  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.
  •  You can switch to a 5-star Medicare Advantage Plan, Medicare Cost Plan, or Medicare Prescription Drug Plan anytime during the year.

 

If you have Medicare A and B, here are your choices:

  •  You can change or enroll on a new Medicare Advantage plan.
  •  You can also go back to Original Medicare and enroll on a stand-alone Prescription drug plan from a Medicare Advantage plan.
  •  If you have Medicare Advantage, you can also switch to Original Medicare, enroll on a stand-alone prescription drug plan and enroll on a Medicare supplement.

 

Medicare 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 but enroll later, you may pay a late enrollment penalty:

  •  Penalties generally stay in effect as long as you have Medicare.
  •  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:

  • Penalties generally stay in effect as long as you have Medicare.
  • Penalties are 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 Medicare Prescription Drug Plan and went without other creditable prescription drug coverage.

 

Providing Coverage to Families in all Fifty States

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(855) 313-5995

We Make Insurance Easy

Call Toll Free

1 (855) 313-5995

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