If you’re eligible to enroll in Medicare, you may also be interested in joining a Special Needs Plan. Special Needs Plans provide specialized coverage to people who fit certain criteria. I-SNPs are designed for individuals who are institutionalized, making them a strong option for people who reside in places like nursing homes. This is what you need to know about I-SNPs.
What Is Medicare’s Special Needs Plan?
Medicare has several different components, one of which is the Medicare Advantage category of health coverage. Advantage plans are offered by private insurance companies that work with the Medicare agency, therefore they have more flexibility in the types of benefits they can offer. Special Needs Plans are a type of Medicare Advantage plan that focuses on a specific group of individuals who fit select criteria. Special Needs Plans offer select benefits that may not be available in other plans, therefore you must verify that you fit the selection criteria before attempting to enroll.
Types Of Special Needs Plans
Special Needs Plans come in several different forms. Each one offers enrollment to a different category of individuals, with some requiring applicants to have been diagnosed with a specific chronic condition and others being made for institutionalized Medicare members. Here are some specifics about each type of SNP category.
What Are I-SNPs?
If you or a person you are caring for has been institutionalized, they may qualify for an I-SNP. In order to enroll in an I-SNP, an individual must be eligible for Medicare Advantage and live in an area where such a plan is available. They must also provide proof that an independent and impartial party has determined they require an institutional level of care. Joining an I-SNP may make institutional care more affordable or offer supplemental benefits that specifically help institutionalized individuals.
What Are D-SNPs?
If you are eligible for both Medicare and Medicaid, you can enroll in a Dual Eligible Special Needs Plan (D-SNP). These plans make managing your benefits for both programs easier and allow you to more efficiently manage your health care expenses. To determine if you are dual eligible, check with an insurance agent.
What Are C-SNPs?
Chronic Condition Special Needs Plans exist to provide people who have been diagnosed with chronic conditions the ability to access specialized health care resources that match their diagnoses. Common conditions that warrant an SNP include cancer, diabetes, dementia, End Stage Renal Disease, and neurologic disorders. An insurance agent can help you discover whether your health status qualifies you for a C-SNP.
Find Out If You Can Join A Special Needs Plan
If you need to enroll in a Special Needs Plan, the knowledgeable agents at Trusted Senior Specialists can help. Call (855) 952-1941 to schedule a consultation.