Simplified Insurance Solutions, LLC Blog
Medicare Advantage plans are for those aged 65 years old and above. Medicare has a period of open enrollment every year from October 15 to December 7. That’s the only time you can switch to another type of Medicare Advantage plan.
Never Ignore Open Enrollment Advice
During enrolment, you can switch from Medicare Part A or Part B to Medicare Part C, or Medicare Advantage, or vice versa. You can also get Medicare Part D if you have Original Medicare, which is Medicare Part A or Part B. By 2020, the prediction is that there will be 1,200 more policyholders of Medicare Advantage plans
Get Update With Changes Every Year
The cost of Medicare Advantage for 2020 is 14% less compared to 2019. You can also lower your premiums further with deductibles. The higher the deductible, the lower your premiums will be. A deductible is what you'll spend first before you can claim your health benefits. Enjoy the benefits of Medicare Advantage plans, but don't get carried away by promises. Stick to insurance providers and policies that have better offers.
Check the Doctors and Hospitals in the Provider’s Network
The networks of medical professionals recommended by your provider may change each year, and even during the mid-year period. Thus, make sure that you visit only the doctors and hospitals in the network of the insurance provider. Also, remember that just because your physician accepts Original Medicare, it doesn't mean he also accepts Medicare Advantage.
Look at Your Drug Usage When Choosing a Plan
Take a look at the list of covered medications for your chosen plan, and always compare it with the list of prescription drugs that you’re taking. It could be worth your time to start setting up a detailed list or spreadsheet of the medications that you’re taking. Compare their costs under Original Medicare and Medicare Advantage plans.
Consider the Maximum Out-of-pocket Costs of Your Chosen Plan
This is what you mean by a deductible. If you have a low deductible, then you'll pay higher premiums. However, if you're healthy or if you have cash set aside for healthcare, then you can have a higher deductible. In that case, you pay a low premium.
Take charge of your Medicare Advantage in 2020. It all begins with knowing much about it. Medicare Advantage is a great vehicle that you can use for all your healthcare needs. As long as you know how to take advantage of it, Medicare Advantage can serve you for the rest of your life.
At Simplified Insurance Solutions, LLC, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (888) 340-7633. Get your free quote today by CLICKING HERE.