Compare Medicare Advantage Plans

Now, more than ever before it is extremely important to shop and compare the available Medicare Advantage Plans for your area.  Even if you have a plan that has no premium; don’t get to comfortable because they may be increasing their co-pays and/or deductibles.  The other thing that normally occurs is one of the plans in the area will become very competitive in hopes of increasing market share.  This is a great opportunity for beneficiaries to take advantage of lower co-pays and extra benefits!

Compare Medicare Advantage Plans

Not All Medicare Advantage Plans Are Created Equal

When comparing Medicare Advantage plans there are several things that you should always look into.  The first and most obvious one is the monthly premium.  The important thing to note here is that a higher monthly premium does not always translate to better coverage.  In fact, more often than not, plans carrying a larger premium will have lower benefits than plans that don’t.  As far as costs are concerned you should also be concerned with the amount of the co-pays.  Pay special attention to the co-pays that you will most likely be using, and less attention to the ones that are rarely used.  For example, don’t get hung up on the durable medical equipment cost when you have never used oxygen, wheelchairs, or hospital beds in your home!

Always Compare Types of Networks in Medicare Advantage Plans

You should always start with the network when comparing Medicare Advantage plans.  Sometimes a new plan will surface with unbelievable benefits, but since the plan is new there will be virtually no network built.  This does not help you when you have several specialist that see on a regular basis.  You should also look at whether the plan is an HMO or PPO.  The HMO will typically save you on co-pays while the PPO will give you more flexibility.  Start by looking up you doctors that you will not change in the plan’s provider directory.  It’s also a good idea to look them up online on the plan’s website since the directories are generally outdated when they are printed.  If your doctor’s are in the network than start looking at the plan’s benefits to see if they are an improvement over your current plan.

Don’t Forget About Prescription Drug Costs

Most of the Medicare Advantage Plans include prescription drug coverage.  Always look your maintenance drugs up in the plan’s formulary to make sure 1st of all that they are covered by the plan and what the cost will be to you.  Many of the plans change their formulary from year to year so you should always compare your drugs even if you are happy with the health coverage of the plan.

Medicare Part D

5

5 Tips For Shopping Your Medicare Coverage

As your well aware by now, the Medicare AEP, Annual Election Period, is in full force.  The AEP runs from October 15 – December 7 and allows you to make changes to your current Medicare Advantage and Prescription Drug coverage.  Any changes that you make during this time will go into effect January 1st.  Making these […]

Loving, Handsome Senior Couple

Shop Your Medicare Plan During The 2015 Open Enrollment

Nobody likes change and that holds especially true when it comes to insurance.  The worst thing you can do, however is nothing!  That’s because Medicare coverage is changing every year, and that holds true in 2015 as well.  So even if you do nothing, your coverage is changing without you whether you like it or […]

2015 Medicare Annual Election Period (AEP) Underway

Every year the Medicare AEP or Annual Election Period arrives with much anticipation.  You may not know when it starts or what you can do, but you will definitely know it’s here when you start seeing the plethora of television, print ads, and billboards touting the latest and greatest coverage. 2015 Medicare AEP The 2015 […]

2015 Medicare Advantage And PDP Plans Now Available

You are now able to find every Medicare Advantage and Prescription Drug Plan available for 2015.  When I started the Medicare Plans site, my goal was to be able to bring you the ability to search and find any Medicare plan that was available.  This process was a long and difficult one, but now the […]

Medicine-pills

Formulary List Do’s and Don’ts

When it comes to Medicare, the one thing you can NOT overlook is the Formulary list that is provided by the insurance company.  Many times we find ourselves caught up in copays and provider networks that we forget to do one of the most important things.  Check the plan’s formulary list to make sure your […]