Saturday, September 15, 2012

Are all Medicare Advantage Plans the same?

The short answer is no, they are not all the same.

Medicare Open Enrollment will begin October 15.  It's the annual period when you can enroll or switch your Medicare Advantage or Prescription Drug Plan.  It's also the time when companies introduce any changes in coverage, premiums and co-pays for the coming year.

It pays for you to take a close look at the information you will soon be receiving in the mail about your coverage. You'll want to compare your plan's benefits and premiums to last year's. Also, double check to make sure the doctors, hospitals and other medical facilities you prefer are still included in your plan.

Here are a few other factors to consider:

What are the costs associated  with your coverage - Some Medicare Advantage plans offer premiums as low as $0. However, with recent legislation changing the compensation rate the plan is paid for MA services, these $0 premiums may become less widely available.

Whether the plan has drug coverage - Most, but not all, Medicare Advantage plans offer drug coverage. If you have existing creditable drug coverage, you may be interested in a plan without drug coverage.

What additional benefits are offered - Medicare Advantage plans will sometimes offer benefits beyond what is covered in Original Medicare.

If your plan doesn't look like it will meet your needs, call me when Open Enrollment begins. As an insurance broker specializing in senior products, I can show you a variety of plans from many of the nation’s most respected insurance companies and help you select the one that’s best for you

You'll never pay a penny extra for my services.
Call 440-255-5700 or toll free at 1-888-951-6201. 



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