Medicare Advantage 2012

I’ve written many articles about Medicare Advantage and the new changes regarding 2012.  I’m writing this article to summarize the important points, and to include 5 tips that you must know before you actually sign on the application!

The 2012 Medicare Advantage Enrollment Period Has Changed

This year the enrollment period has changed for Medicare Advantage plans.  The enrollment period was from November 15 to December 31st.  The new enrollment period is from October 15th until December 7th.  You do not want to wait until December to start researching plans.  Start now and learn as much as you can about the best Medicare Advantage plan for you.  For more detail on this subject see my post on the new enrollment period for 2012.

Watch Out For No Drug Coverage

Most Medicare Advantage plans have prescription drug coverage built in, but not all of them.  Many companies have similar plans that don’t include coverage for drugs.  Many people have signed up for a plan thinking they were getting drug coverage and found out too late that they didn’t have it.  Don’t let this happen to you.

Watch Out For Tier Changes and Deductibles

Some companies are adding deductibles to their drug plans that weren’t there before.  Always check your ANOC (Annual Notice of Change) to make sure your company did not do this.  Of course, you need to look for this on any new plans that you may be considering.  Also, many companies are making changes to their drug tiers in their formularies.  Make it a point to look up your daily maintenance drugs in your existing formulary as well as any new formularies to see if they might be charging you more!

You Will Be In a Network

The majority of Medicare Advantage plans are either an HMO or a PPO.  The HMO requires you to use only physicians and facilities in their network.  The PPO is a little more forgiving as far as this goes, but be aware that they will say that you can use any doctor or hospital.  This is NOT true.  There is an out of network function that allows you to use other doctors and hospitals that are not in their preferred network.  The problem is that those doctors or facilities have to agree to file the insurance.  There are many that will not!

It’s Not Too Late to Change

During the AEP (Annual Enrollment Period) you are allowed to make multiple changes.  This means that if you made a mistake by choosing a plan that your doctor does not accept, or maybe your drugs are not covered; you are still allowed to make another change.  In fact, you can make unlimited changes up until December 7th!  I don’t recommend making multiple changes, but it is an option for you if you need it.

Medicare Part D

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 […]

Leave a Reply

Your email address will not be published. Required fields are marked *