Alaska Medicare: Medicare Advantage Plans in Alaska (AK)

Medicare Advantage Plans in Alaska

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How Do Medicare Advantage Plans Work in Alaska?

Figuring out Medicare, a federally administered program, should be easier than a trek up Denali, right? Yes, and in fact, the journey gets easier. Medicare offers health coverage for Alaska residents 65 years of age and older. People with certain chronic conditions may qualify at a younger age. While figuring out Medicare is not a task many anticipate tackling before their 65th birthday, it’s good to know there are options for healthcare coverage in the form of Medicare Advantage (MA) plans that many Alaskans might not yet be aware of.

Medicare Advantage plans, also known as Medicare Part C, allow Alaska residents to receive insurance used for hospitalization (Medicare Part A) and/or insurance for medical visits and doctor’s office (Medicare Part B). These plans are approved by Medicare and sold by private insurance companies. Medicare Advantage plans legally must offer at least the same level of coverage as Medicare Parts A and B, but often include additional benefits.

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Wondering If You’re Eligible for a Medicare Advantage Plan in Alaska?

You are eligible for a MA plan if you’re eligible for Medicare Parts A and B in Alaska, assuming you reside in an area where Medicare Advantage plans are sold. These plans may differ from county to county and in different zip codes. Knowing medical needs can increase with age, a Medicare Advantage plan specific to Alaska residents may be a smart way to save money considering many Medicare Advantage plans have $0 monthly premiums. Your coinsurance, copayments and deductibles will vary depending upon the Medicare Advantage plan in which you enroll.

Alaska residents cannot be enrolled in a Medicare Advantage Plan and a Medicare Supplement Insurance plan at the same time. A Medicare Supplement Insurance plan (Medigap) helps cover some of the gaps in coverage: the copayments, coinsurance and deductibles that aren’t covered by Medicare Parts A and B.

What’s the Prescription Drug Coverage for Medicare Advantage Plans in Alaska?

Any resident of The Last Frontier looking for prescription drug coverage should consider a Medicare Part C plan, as some Medicare Advantage plans may include a Medicare Prescription Drug plan. A Medicare Advantage Plan with prescription drug coverage is called a MAPD plan and provides coverage for prescription drug costs. Enrollment in MAPD can protect Alaska consumers from higher prescription costs.

Most Popular Medicare Advantage Plans in Alaska

Finding the right Medicare Advantage plan in Alaska is as unique as the person the plan is supporting. Among Alaska residents, most enrollees choose a Local PPO plan, as reported by the Centers for Medicare & Medicare Services (CMS.gov). Knowing how much Medicare plan coverage you need will help determine the right Medicare Advantage Plan in Alaska for you.

You can become more informed about Medicare Advantage plans available in Alaska by contacting a SelectQuote licensed insurance agent to guide you through enrollment. Acting as your advocate, our agents help you weigh the Medicare Advantage plan options in your area, understand costs and answer questions throughout the process. SelectQuote individually shops more than 20 national insurance companies to find a plan that meets your needs and budget.

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When is the Alaska Medicare Advantage Plan Enrollment Period?

Enrollment in a Medicare Advantage Plan occurs during specified enrollment periods. Medicare Enrollment in Alaska opens for residents prior to turning age 65 or earlier in special disability cases. The Initial Enrollment Period (IEP) runs for seven months.

IEP begins three months before turning age 65, including the birthday month, and ends three months after the birthday month. It is also the time allotted for enrollment in Medicare Parts A, B, C and D. For example, if you’re an Alaskan with a June birthday, your IEP runs from March through September.

You may also enroll in a Medicare Advantage plan during the Medicare Annual Enrollment Period, which occurs annually each fall. Medicare’s AEP runs from October 15 through December 7 each year. The key dates for AEP are as follows:

Oct. 15 – Annual Enrollment Period Begins

Dec. 7 – Annual Enrollment Period Ends

Jan. 1 – First Date Coverage can start

During the Annual Enrollment every year, Alaska residents can:

Switch from Medicare Parts A and B (Original Medicare) to a Medicare Advantage (Part C) plan
Change from one Medicare Advantage Plan to another
Switch from one Prescription Drug (Part D) plan to another
Add a Prescription Drug (Part D) plan if you didn’t enroll when first eligible for Medicare

In addition to AEP, Alaska residents who are enrolled in a Medicare Advantage plan can make a one-time plan change during the Open Enrollment (OEP) period, which occurs each year from January 1 through March 31. There are also Medicare Special Enrollment Periods (SEP) you may be able to enroll in Medicare or make changes to your existing Medicare Advantage coverage because of certain events and life changes, such as moving or losing employer coverage.

Is an Alaska Medicare Advantage Plan Right for You?

SelectQuote can help ensure you are getting all available benefits while staying up-to-date with annual changes to Medicare plans made by insurance companies. As a trusted third-party company that specializes in helping consumers understand Medicare insurance options, SelectQuote is here to help Alaska residents find the right Medicare Advantage Plan to meet your needs.

To ensure you are getting all the benefits you need, call or complete your online form today. Let SelectQuote’s experienced licensed insurance agents simplify the Medicare maze by comparing rates and independently shopping insurance companies to help you find an affordable option that meets your unique needs.

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