Here’s what you need to know about Medicare Advantage Plans. Getty Images
The Medicare Advantage open enrollment season ends March 31. There is a lot of information out there about Traditional Medicare and Medicare Advantage. Not to mention mailers and TV ads. Choosing a Medicare Advantage Plan.
If you’re considering changing your Medicare Advantage plan, or moving to traditional Medicare during open enrollment, here’s an important list of dos and don’ts before you make the decision. .
1. Do Read the comprehensive Medicare handbook.”Medicare and You 2023” (free) and visit Medicare website For more information about Medicare Advantage plans and traditional Medicare, visit
2. don’t Missed the open enrollment window for switching Medicare Advantage plans or switching from Medicare Advantage to traditional Medicare; ends March 31.
The open enrollment period from October 15 through December 7 is for joining, switching, or discontinuing a Medicare Advantage Plan or Medicare Part D Prescription Drug Plan.
3. Do Understand the difference between Traditional Medicare and Medicare Advantage. Traditional Medicare, also known as Original Medicare, is a federal program available to any doctor or hospital in the United States who has Medicare. It includes Part A (hospital insurance) and Part B (medical insurance) and allows you to purchase a Medicare prescription. A drug plan known as Part D and a supplemental Medicare policy known as the Medigap. You pay a monthly Part B premium, and if you purchase a Part D plan, you also pay a corresponding monthly premium.
Medicare Advantage, or Medicare Part C, is an alternative to traditional Medicare sold by private health insurance companies. Physicians and other healthcare providers within the plan’s network and service area must be used, and a referral may be required to see a specialist. There is also a plan with an insurance premium of 0 yen.
4. Do Do research to find out if you need a Medigap policy if you switch to traditional Medicare. Medigap, or Medicare Supplemental Insurance, is a form of insurance that some Traditional Medicare participants purchase from a private health insurance company to pay for Medicare-covered medical services and supplies, as well as some services that Traditional Medicare does not cover. Policy for paying out-of-pocket medical expenses. , health management when traveling abroad, etc.
5. Do Call your state health insurance program or SHIP for unbiased information about Medicare Advantage and Traditional Medicare.a Vessel Advisor We won’t direct you to a specific Medicare plan, but we can give you the basics to help you make smart decisions. “Some counselors may be Medicare beneficiaries themselves, allowing them to personally experience situations that others are going through,” said the California Department of Aging director. Susan Demarois says.
6. do Get free Medicare plan finder A tool for comparing Medicare Advantage Plans, Medicare Part D Prescription Drug Plans, and Medigap Supplemental Policies. Plan Finder has Medicare star ratings for Medicare Advantage and Part D prescription drug plans to help you filter out potential options. These ratings, on a scale ranging from 1 to 5 stars (5 being the highest), measure how well a particular Medicare Advantage and Part D plan works for its beneficiaries. If the plan falls below three stars for his third consecutive year, Medicare’s PlanFinder records it as a “low-performing” plan.
7. Do Call your doctor to find out which Medicare Advantage Plans they and their hospital are on.
8. Do Find out if the prescription drugs you’re taking and their dosages are covered by the particular Medicare Advantage Plan you’re considering, and how much they cost out of your pocket.
9. do it Consider working with a Medicare broker to find Medicare Advantage (and Medigap and Medicare Part D) plans.Please understand that brokers generally only sell policies from a select number of companies and are always paid in commission. no Work at Medicare.
10. Don’t Buying a Medicare Advantage Plan just because you saw a TV commercial for a Medicare Advantage Plan, or with a celebrity who urges you to call an 800 number. It’s the Wild West when it comes to product distribution,” says David Lipschutz, associate director of the Center for Medicare Advocacy.
11. Don’t Diane Omdahl says she chooses the Medicare Advantage Plan purely for its premium. Medicare for You: A Guide for Smart PeopleYou can also compare annual out-of-pocket limits because Medicare Advantage plans share the cost of most health care services. “A lot of people get stuck on premiums and he picks one Medicare Advantage plan without considering all the factors,” says Hale.
12. Please don’t Remember, if you need a doctor while traveling, that doctor may not be in the Medicare Advantage Plan network. As a result, doctors may not be able to see you.
