Now that Medicare Open Enrollment is here, you have a lot of options to consider. Do you stick with your current plan, or switch to a new one? Or, if this is your first go-around, should you choose a Medicare Advantage plan, or go with Original Medicare? There are a number of benefits that comes with choosing a Medicare Advantage plan that you may find appealing, which we’ve covered in a recent blog. This week, we’ll talk about what to do if you already have a Medicare Advantage plan, and are contemplating whether to keep your plan or switch to a new one.
Keeping Your Current Plan vs. Switching to a New One
If you’re debating whether you should keep your current Medicare Advantage plan or switch to a new one, you’re probably wondering what criteria should inform your decision. Here are a few questions to ask yourself:
Does my plan still exist?
Every year some Medicare Advantage plans exit the market and are no longer offered. This year, 4% of plans are leaving the market, and the majority of these plans have an average or below average rating. If your plan is leaving the market, your insurer should have sent you a letter informing you of this. However, things happen, and this information doesn’t always reach us. If you’re unsure as to whether your plan will continue to be offered, look for it in the Medicare Plan Finder or the State Health Insurance Assistance Program.
Does my plan still cover the doctors and hospitals I want?
Two out of three Medicare Advantage plans are HMOs, which means that the insurer chooses what hospitals and doctors are covered in the plan. You might not have been aware, however, that insurers can change the doctors and hospitals the plan covers at any time. Call the doctors and hospitals from which you receive care and ask them if they are still participating in your plan. If they are not, ask them if there is a new plan in which they are participating.
About Global Premier Benefits
Global Premier Benefits offers education for seniors on healthcare options available to them that could improve their quality of life and defray their healthcare costs as well. We have agents and clients in more than 16 states, including the District of Columbia. Our goal is to enable seniors to live healthy, rewarding lives without compromising their finances. Please follow us on our blog for weekly information on seniors and health care. You can also keep up with Global Premier Benefits on Facebook, Twitter, Google+, YouTube, and Pinterest.
Tags: Open Enrollment