Why Every Person On Medicare Needs To Review Their Policies Now

One of the biggest mistakes I see with my clients on Medicare is that they tend to “set it and forget it.” When I speak about Medicare policies, I’m talking about those with either a Medicare Advantage plan or a Medicare Supplement (Medigap) with a Part D drug plan.

We have just entered the one time during the year when everyone on these policies can change either their Advantage plan and/or their drug plan. AEP is only available until December 7.

If you haven’t looked into Medicare Advantage plans, you owe it to yourself to do so. These plans have continued to get better and better each year. Most have $0 premiums, and a few even PAY YOU. Most companies have Preferred Provider Organization (PPO) plans with no premium and requires no referral to see specialists. While they still have networks, many have expanded their plans greatly and include a huge number of doctors and facilities to choose from. Some even have nationwide coverage, so if you travel a lot, they will still cover you, even without an emergency situation.

Lastly, the additional benefits not available on original Medicare continues to grow. Most now offer fitness memberships, meal delivery, transportation to/from medical appointments, expanded dental, vision, and hearing benefits, and over the counter products.

Suppose you’ve decided to stay on Original Medicare with a separate supplement and drug plan. In that case, you should know that companies have significantly improved their formularies (covered drugs), which will be especially beneficial to those on insulin. These plans change every year, so it is wise to compare the actual out of pocket costs for the various plans to see which will be the least expensive for you.

Jim Rooney at Advantage Insurance Concepts understands all the possibilities and changes within each of the Medicare plans. Please pull out your policy and schedule an appointment for him to just review and make sure that you are getting everything you possibly can.