Should You Change Medicare Advantage Plans?
What you need to know when considering a change to your Medicare Advantage Plan.
Should you change to a different Medicare Advantage plan?
We feel you should ask this question between October 15 AND March 31 at least every 3-years.
Why? Because the Idaho Medicare Advantage plan market changes annually.
New plans are available, existing plans are no longer offered, and remaining plans can increase your share of out of pocket costs for the services you use. The prescription drug side of these plans can increase your fill/refill fees as well as change the pharmacies in the plan’s network. Covered medications are dropped while different ones can be added too.
Are your preferred physicians and hospitals in next years version of your current plan?
Kaiser Family Foundation estimates 7 of 10 Medicare Advantage plan members do not read their ‘annual notice of change’ annually. Please read this article. This document shows up in your mail box in late September to the 1st week in October.
This process can be easier than you think if you have the right resources to help.
If you relate to points below you may be better off if you change Medicare Advantage plans.
Major points to consider include:
1. Your monthly premium is above $70 and you are concerned about your copays and ‘out of pocket limit’ rising each year.
2. You learned other plans have much lower cost for the prescription medications you take.
3. You moved to a zero premium plan and later found out the plan only has one major hospital in it’s network and your selection of physicians is much smaller than you thought.
4. Not all of your medications are covered by your plan.
5. You learned other Medicare Advantage plans offer better preventive and comprehensive dental coverage than what you have.
6. Your current plan requires permission to see a specialist. You want a plan without this requirement.
7. You know the government no longer gives insurance companies with a star rating below 4 any bonus money and are concerned your premium and copays are higher because of your plan’s 3 or 3.5 star rating.
8. Your plan will not be available next year (you will get a notice from your insurance company if this happens to you).
9. The doctors and/or hospitals you prefer are no longer in your plan’s network.
Other issues to consider.
1. You did not really explore your options before enrolling in a Medicare Advantage plan. You just enrolled in a plan your neighbor, friend, or was offered by your group insurance carrier before retiring.
2. You did not know about or understand your options with the 10 different Medigap (Medicare Supplement) plans.
If this interests you, we encourage you to learn more about Medigap policies and carrier differences and then call us.
3. You didn’t understand that with Original Medicare you can use any doctor/hospital in the entire US that accepts Medicare and you are feeling the network restrictions of your Medicare Advantage plan is limiting your provider choices. Would you want to use the services of the top hospital in the US what specializes in the health issue you were just diagnosed with?
4. Your Medicare Advantage plan has extra features not covered by Medicare and you are not using them. You are concerned your premium is higher because of these features.
5. You just learned about 2 Medigap plans with an out of pocket limit much lower that your Medicare Advantage plan AND these plans let you use any doctor/hospital in the US that accepts Medicare.
6.. You feel it is unfair to have to be restricted on you choice of doctors and hospitals.
What should you do? Should you change Medicare Advantage plans?
If there are other plans which will better meet your health care needs and fit your budget, yes we suggest you switch.
Brokers that specialize in Medicare and are licensed with all of your plan choices are available to help you.
Based on your goals, they can build a short list of other plans and go over their differences. Once you understand the plan differences and your questions are answered, they will help enroll in the plan you choose.
We are here to help.
We have helped other Idaho residents with this process since 2012. If you call us, you could be next.
Feel free to learn more about us before calling. We are on Medicare and understand the challenges and issues people have with this subject.
We are available on 208-867-0296.
This page was last modified on
can i change medicare plans, can i save money by changing medicare plans, can i save money bychanging medicare advantage plans, changing idaho medicare plans, compare medicare advantage plans, guaranteed issue, how do i change medicare advantage plans, how to change medicare plans, i need help changing medicare plans, should i change medicare plans, trial rights, where do i get help changing medicare plans