The Medicare Advantage Disenrollment Period 2017, also know as MAPD starts on January 1st and ends on February 14th. During this time each year, Medicare-eligible seniors can make changes to their existing health insurance coverage. Here is a guideline to the changes you are able to make.
Medicare Advantage (Part C)
Medicare Advantage, also know as Medicare Part C or MA replaces your Original Medicare Benefits with benefits administered by a private insurance company. To qualify, a Medicare Advantage Company must offer at minimium the actuarial equivaliant of Medicare Part A and Part B benefits. Often, an MA Plan will have extra benefits, such as dental, vision and prescription drug coverage. Many seniors are attracted to Medicare Part C due it’s typically low upfront costs.
Medicare Advantage Plans Have Restrictions
The main drawbacks of a Medicare Advantage Plan is that under most circumstances you must receive care from a doctor or hospital that is part of the insurance companies doctor and hospital network. You will also have out-of-pocket expenses for most types of care. This is usually in the form of coinsurance and deductibles. Out-of-pocket expenses will vary by company.
Choosing a Medicare Advantage Plan
Before purchasing a plan, it is very important to compare all the availble options in your area. Because MA plans are not standardized like Medicare Supplements, you will have to compare the specifics of each company. Make yourself aware of the rules under which a plan pays and be sure you understand it’s copays, deductibles and maximium out-of-pocket limit.
On this page you will find interesting and informative articles pertaining to MA plans. If you can’t find what you’re looking for just give us a call. Our licensed advisors are standing by to assist you.
The Annual Enrollment Period is the best time to check your current coverage against the competition. Any 2017 changes to your plan, such as rate increases, benefit reductions, and loss of specific drug coverage will be locked in when it’s over. Get a free no-obligation policy checkup.
With this simple quiz, we ask ten questions to help determine the best coverage based on your benefit preferences. The quiz is designed to be an entertaining way to learn about the differences between Medicare Supplements and Medicare Advantage Plans.
The Medicare Advantage Star Ratings system is used by the Centers for Medicare & Medicaid Services (CMS). It’s a quality rating system with the highest score being five stars. How is this rating determined and how much should it be considered when choosing a plan?
Congratulations! Turning 65 is a milestone. You’ve worked hard and hopefully saved enough for retirement. Either way, this is the time to make some necessary decisions regarding your healthcare and finances. The following is a turning 65 checklist to help guide you through this critical period.
Because Original Medicare doesn’t cover everything, it is highly recommended you purchase additional coverage. Otherwise, you are leaving yourself open to potentially limitless hospital bills. Your top two choices for additional coverage are a Medicare Supplement or Medicare Advantage plan. There are advantages to both.
Every year you should evaluate your health care coverage. Before deciding to make any changes, consider the current cost of your plan, your overall satisfaction, and your health status.
Should I buy a Medicare Supplement or a Medicare Advantage Plan? This is one of the most frequently asked questions by seniors shopping for Supplemental coverage. To help you find an answer, let us first look at some basic information about each of these health care options.