870.336.2121
The Best Medicare Plans
in Jonesboro, AR
Medicare Supplements, Medicare Advantage Plans, and Medicare Part D Plans
Let Us Help You Navigate Medicare
Selby Insurance & Financial has been helping seniors across Arkansas with enrollment decisions for Medicare Supplements (or Medigap), Medicare Advantage Plans, and Medicare Part D Drug plans for more than 20 years. We understand that everyone’s needs are different and we make it our goal to find the best plan to fit your needs from companies including Aetna, Arkansas Blue Cross Blue Shield, Healthspring, Humana, Qualchoice,
United Health Care, and Wellcare by Allwell.
Toby J Selby, CMIP®
Certified Medicare Insurance Planner™
What is the Medicare Initial
Enrollment Period (IEP)
When you turn 65, or enroll in Medicare Part B for the first time (whichever comes later), you become eligible for your Medicare Initial Enrollment Period (IEP). This period begins 3 months before your 65th birth month, or Part B enrollment month (if you are delaying enrollment into Part B), includes your birth month, and continues for 3 months after your Part B effective date. During the Initial Enrollment Period you are guaranteed approved on any Medicare-approved plan, including Medicare Supplement, Medicare Advantage Plans, and Medicare Part D Drug Plans regardless of pre-existing conditions. Contact Selby Insurance & Financial to help you navigate the ins and outs of your Medicare Initial Election Period.
What is a Medicare Supplement
A Medicare Supplement plan, also known as Medigap plan, is private insurance designed to work alongside Original Medicare (Parts A and B) to help pay for healthcare costs that Medicare doesn’t fully cover. These out-of-pocket expenses can include copayments, coinsurance, and deductibles. Medigap plans are standardized across most states, meaning each plan type (labeled A through N) offers the same basic benefits no matter which insurance company sells it. Since Medicare Supplements are standardized, the only thing that changes is the price for the plan. Medicare Supplements do not include prescription drug coverage. You will need a separate Part D drug plan for prescription coverage. With a Medicare Supplement, you have the freedom to visit any doctor or hospital that accepts Medicare nationwide. Selby Insurance offers Medicare supplements from a variety of insurance carriers in Jonesboro, AR.
What is a Medicare Advantage Plan
A Medicare Advantage plan, also called Part C, is an all-in-one alternative to Original Medicare offered by private insurance companies approved by Medicare. These plans bundle Part A (hospital insurance) and Part B (medical insurance), and most also include Part D (prescription drug coverage), along with extra benefits like vision, dental, hearing, and wellness programs. Unlike Medigap, which only supplements Original Medicare, Medicare Advantage replaces it—meaning you’ll typically use a plan’s provider network and follow its rules for care and referrals. Many Advantage plans feature low or even $0 premiums, but costs vary depending on services used, and you may have copays or an annual out-of-pocket maximum that Original Medicare doesn’t provide.
Medicare Advantage Plans can be either a PPO, HMO, or PFFS plan. This means that Medicare Advantage Plans will have a network that you have to abide by when using medical providers.
Medicare Advantage and Plans are offered on a year-to-year basis and renew each year on January 1st. The Annual Enrollment Period starts on October 15th and runs through December 7th. Selby Insurance can help you each year during the Annual Enrollment to review what Medicare Advantage Plan
options are available in Jonesboro, AR.
What is a Medicare Part D Plan
A Medicare Part D plan is a stand-alone prescription drug plan offered by private insurance companies approved by Medicare. It helps cover the cost of prescription medications, which are not included under Original Medicare (Parts A and B). Although private insurers offer these plans, they are overseen by the Centers for Medicare and Medicaid Services (CMS).
There are numerous Part D Drug Plans offered in Jonesboro, AR. Each plan has its own list of covered drugs, called a formulary, and medications are grouped into tiers that determine copay amounts. You typically pay a monthly premium, along with deductibles and copays or coinsurance when you fill prescriptions. Part D also includes built-in protection against catastrophic drug costs, ensuring coverage continues even if your medication expenses become very high.
The ideal Medicare Part D prescription drug plan varies based on individual circumstances, such as the medications you take, your preferred pharmacy, and your financial situation. It's important to review each plan's drug list (formulary) and how they price their prescriptions. Selby Insurance can guide you through the available options in Jonesboro, AR, ensuring you select a plan that aligns with your healthcare needs and budget.
Medicare Part D Drug Plans are offered on a year-to-year basis and renew each year on January 1st. The Annual Enrollment Period starts on October 15th and runs through December 7th. Selby Insurance recommends that we review your Part D Drug plan annually as these plans change from year to year and you may need a new plan for the upcoming year. Selby Insurance can help you each year during the Annual Enrollment to review what Medicare Advantage Plan options are available in Jonesboro, AR.
What is the Annual Enrollment Period (AEP)
The Medicare Annual Enrollment Period (AEP), which runs from October 15 to December 7 each year. This is the time when Medicare beneficiaries can make changes to their coverage for the upcoming year. During this period, individuals can enroll in or switch Medicare Advantage plans (Part C), join or change a Part D prescription drug plan, or return to Original Medicare from a Medicare Advantage plan. Changes made during AEP take effect January 1 of the following year. This period is crucial for ensuring that coverage continues to meet an individual’s healthcare needs, especially as plan options, formularies, and premiums can change annually.
Selby Insurance works with multiple Medicare Advantage Plan and Part D Plan Insurance carriers
for Jonesboro, AR. During Annual Enrollment Period, let Selby Insurance take care of shopping out your medical and prescription needs for the upcoming year. Plans change year to year and the Annual Enrollment Period is an important time to make sure you plan still meets your needs for the upcoming year.
What is a Special Enrollment Period (SEP)
Special Enrollment Periods grant an enrollment period into a Medicare Part D beyond your Initial Enrollment Period. If you retire, lose employer drug coverage, or relocate outside your plan's service area, you may be eligible for a special enrollment period.
Typically lasting 60 days, a Special Enrollment Period might begin the month after you retire or lose creditable employer insurance, whichever occurs first. Avoid late enrollment penalties by signing up during this window if you lose creditable coverage.
What is Medicare Advantage
Open Enrollment Period
The Medicare Advantage Open Enrollment Period (OEP) runs from January 1 through March 31 each year and is specifically for people already enrolled in a Medicare Advantage plan. During this time, you can switch from one Medicare Advantage plan to another or drop your Medicare Advantage plan and return to Original Medicare, with the option to join a standalone Part D prescription drug plan. However, unlike the fall Open Enrollment Period, you cannot newly enroll in a Medicare Advantage plan if you don’t already have one. This period gives beneficiaries a chance to make one change if they find their current plan isn’t meeting their needs.
We Can Help With Your Medicare Options
Medicare
Supplements
Selby & Insurance Financial offers Medicare Supplement, Medicare Advantage, and Medicare Part D Carriers in Jonesboro, AR
We do not offer every plan available in your area. Currently, we represent 7 organizations which offer 53 products in your area. Please contact medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options. There’s no need for you to accept a quote from one company or to spend time filling out many applications to get quote comparisons. We do the shopping. You do the saving.