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 not.
Shop Medicare Advantage Plans in 2015
During Medicare Open Enrollment, you are allowed to make changes to Medicare Advantage Plans. You can change the one you have, or you can add a new one or drop one entirely. Here’s what to look for when shopping for Medicare Advantage Plans in 2015.
- Type Of Plan (HMO, PPO, PFFS)
- Network Of Providers
- Costs (Premiums, Copays)
- Drug Coverage
- Extra Benefits
Shop Medicare Prescription Drug Plans (PDPs) in 2015
You are also allowed to make changes to Medicare Prescription Drug Plans during the Medicare Open Enrollment. The changes allowed are the same as Medicare Advantage plans. You can add, change, or drop a Medicare PDP plan in 2015 during the Medicare Open Enrollment. Make sure to look at the following when choosing your plan for this year.
- Formulary – Are your drugs covered?
- Tiers and Copays
- Any Coverage In The Gap
Shop Medicare Supplements in 2015
Did you know that you can change your Medicare supplement year around? That includes the Medicare Open Enrollment as well. This time is as good a time as any to compare plans and premiums to make sure that you are receiving the most value for your hard earned dollar. You should be less concerned with the name of the insurance company, and more concerned with the plan and costs. Look for these things when choosing your Medigap plan in 2015.
- Plan Type Such As Plan F, Plan C, etc…
- Premiums – Some companies raise rates more than others
- Health Questions – How hard is it to be accepted