Medicare Plans in Minnesota
Sorting through all of the Medicare plans in Minnesota to find the right level of coverage can be exhausting. We don’t think it has to be. We’ll help you sort through the Medicare plans available in Minnesota to help you find the coverage that’s right for you.
Who’s eligible for a Medicare Plans in Minnesota?
Medicare is a government-sponsored program that provides healthcare benefits to those who qualify. Unless you have a qualifying condition, you will first become eligible for Medicare at age 65. You can qualify for Medicare under the age of 65 if you have received Social Security Disability Income (SSDI) for 24 months or have been diagnosed with Amyotrophic Lateral Sclerosis (ALS) or End-Stage Renal Disease (ESRD).
To qualify for Medicare, you must be a citizen or permanent resident, having lived in the US for the past 5 years. You or your spouse must also have had a job that contributed to Medicare through Social Security deductions for at least 10 years.
If you’re unsure about your eligibility for Medicare plans in Minnesota or will be turning 65 in the next six months, we can help. Talk to a licensed insurance agent by calling the number above.
What are the Medicare Plans in Minnesota?
Orginial Medicare Part A & Part B
Original Medicare is the federal component of Medicare and has two parts:
Part A (Hospital Insurance) covers certain services, like inpatient hospital care, care received at a skilled nursing facility, and hospice care.
Part B (Medical Insurance) covers outpatient medical services and supplies that are medically necessary to treat your health condition(s). Part B also covers some preventive care, like flu shots and cardiovascular screenings.
Original Medicare doesn’t cover everything. Services generally not covered by Original Medicare include:
- Long term care (custodial care)
- Most outpatient prescription drugs
- Hearing aids
- Eye exams and eyeglasses
- Most dental care and dentures
- Routine foot care
- Cosmetic surgery
For this reason, you can expand your coverage with additional Medicare plans, offered by Medicare-approved private insurance companies.
Medicare Advantage Plans (Part C)
Medicare Advantage plans are provided by Medicare-approved private insurance companies and work as an alternative to Original Medicare (Parts A and B). These plans must provide the same coverage as Original Medicare (with the exception of hospice care, which remains covered by Part A). They can also provide additional benefits, such as dental, vision, and prescription drug coverage. Medicare Advantage plans with prescription drug coverage are called Medicare Advantage Prescription Drug (MAPD) plans.
To enroll in a Medicare Advantage plan, you must first be enrolled in both parts of Original Medicare. Premiums for these plans can start at $0, increasing with the level of coverage selected. You’ll need to continue paying your Part B premium in addition to your Part C premium.
Medicare Prescription Drug Plans (Part D)
Prescription Drug coverage is generally not covered by Original Medicare or Medigap Plans. Stand-alone Prescription Drug plans, offered by Medicare-approved private insurance companies, work alongside Original Medicare (Parts A and B) to add prescription drug coverage. With these plans, a tier system is used to grade medications, and copays/coinsurance for each medication are set in accordance with their tiers. Drugs graded in the lowest tiers have the lowest copays/coinsurance, and vice versa. Each plan provides a drug formulary for you to see which tier(s) your medications fall into. This allows you to compare plans and select one with the best overall value for your specific prescription needs.
Medicare Supplement Plans (Medigap)
Medicare Supplement plans add an additional layer of coverage to your Original Medicare by filling in coverage gaps. Medigap plans are provided by Medicare-approved private insurance companies and work alongside your Original Medicare to help reduce your out-of-pocket costs by paying certain healthcare costs, like copayments, coinsurance, and deductibles.
When Can I Enroll In A Plan?
Medicare Advantage and Medicare Prescription Drug Plans
You are first eligible to sign up for Medicare plans in Minnesota during your Initial Enrollment Period (IEP). Your IEP starts three months before your 65th birthday month and continues for an additional three months. This means you have a total of seven months to enroll.
Following this period, you will be able to make changes to your Medicare Advantage or Medicare Prescription Drug coverage during the Annual Election Period (AEP). This period occurs once per year, from October 15th to December 7th.
Medicare Initial Enrollment Period
7-Month Initial Enrollment Period | Begins 3 months before the month you turn 65
*Signing up for Parts A and B during months 5,6, and 7 may result in delayed coverage.
KEY FACT: The General Enrollment Period provides you an opportunity to enroll in Original Medicare if you missed your IEP. This period occurs every year from January 1st to March 31st. Then, you’ll have an opportunity to select a Medicare Advantage Plan from April 1st through June 30th.
Additional Medicare Resources in Minnesota
the Minnesota State Health Insurance Assistance Program (SHIP) is a free services that provides unbiased counseling, assistance, and information to Medicare beneficiaries, their families, and caregivers.
The Medicare Savings Program (MSP) provides financial assistance to Medicare beneficiaries that have limited income. It can help pay for Medical expenses, like premiums, coinsurance, and copays.
Sources: Medicare.gov; mnaging.org; mn.gov