The Medicare Annual Election Period will run from October 15th through December 7th, as you may have heard. This is an excellent time to switch your Medicare Advantage plan because there are so many options available. Furthermore, if you have a Medicare Supplement (Medigap) and Prescription Drug Plan, this is a great time to evaluate your current medications, ensure that your plan still covers the pharmaceuticals you take, and confirm that your medication tier hasn't changed.
Many people on Medicare Supplement plans to view this period as an opportunity to switch from one Medicare Supplement plan to another without regard to their health state. True, this is not always the case.
You can switch your Medicare Supplement at any time, but you will have to go through the underwriting procedure. When you meet with an agent to enroll in a Medicare Supplement, they will ask you a series of health questions before submitting your application to the insurance company for approval. That insurance company will very certainly look over your medical records, prescriptions, and other information to see if you are eligible to join their plan.
In this circumstance, you should definitely consult with a registered independent insurance agent that specializes in Medicare Insurance and can assist you in determining which supplemental plan is best for you.
Customers of Medicare Supplement frequently express worry that their charges are no longer affordable. Many people believe that they should review their Medicare Advantage Plan choices. This is something you should do every year during election season. Before making such a change, there are a few things to think about. We strongly advise you to talk with a registered independent insurance agent in your area to determine whether or not the change is appropriate for you.
Here are a few crucial things to think about:
If I became critically ill, would I prefer to consult with a doctor from my -insurer's network or consult with a doctor of my choice?
Would my Medicare Advantage Plan's out-of-pocket maximum be reached?
Do my doctors participate in the Medicare Advantage plan that I'm considering? Learn more: How Do I find a Primary Care Physician near me who accepts medicare
There are a lot of other topics to talk about. Our agents at Medicare Services always conduct a thorough needs analysis to get to know you and your unique situation. We recognize the importance of making healthcare choices, and we do so on your terms.
Medicare Supplement Insurance, also known as Medigap, is an alternative or adds on to Original Medicare (Part A and B) private health insurance. It helps pay for 20 percent of the costs of Medicare not covered by Original Medicare.
Medicare Advantage (MA) plans, especially compared to a package that includes basic Medicare, a Part D drug plan, and a Medigap replacement plan, can be a much lower cost Medicare solution. Approximately one-third of Medicare enrollees are currently on Medicare Advantage plans and two-thirds have basic Medicare.
Premiums and deductibles are important, but the specifics of coverage for the individual medications you take may have the greatest effect on what you're going to pay. Next, make sure the new plan or any other medications you're considering are still protected by the drugs you take.
Medicare frustrations have led some doctors to experiment with new business models. For a number of reasons, patients may lose doctors, i
Medigap Insurance has pesky rate increases that no one likes. Customers always ask if their Medigap rate will go up, and the truthful answer is YES. Increases in Medigap premiums will occur almost every year.