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Why You Should Still Review Your Medicare Plan

Sudhir Mathuria  Licensed  Professional Health Life 360 6776 Southwest Freeway, Suite # 178 Houston TX 77074 713-771-2900 www.MyMedicarePlanning.com

Sudhir Mathuria
Licensed Professional
Health Life 360
6776 Southwest Freeway, Suite # 178
Houston TX 77074
713-771-2900
www.MyMedicarePlanning.com

In a world filled with health care complaints, being pleased with your Medicare coverage puts you ahead of the game. But being satisfied doesn’t mean there aren’t areas for improvement, and what worked for you in 2017 may not be right for 2018.
Though it’s difficult to know what the future holds, if you foresee events such as a surgery or changes in your prescription drug regimen, planning in advance with the right Medicare policy could help you save substantially on your medical bills.
Medicare open enrollment, which will last until Dec. 7, is a chance for all beneficiaries – even those who are pleased with their plan – to explore their options.
During this period, you can drop your current Medicare Advantage plan in favor of another, revert to Original Medicare, leave Original Medicare and opt for Advantage, add or change Part D prescription drug coverage or purchase a Medigap or supplemental policy.
Changes made during the open enrollment period will take effect on Jan. 1.
But, I’m Happy – Why Should I Change?
Reviewing your current coverage doesn’t necessarily mean you’ll make any changes, but rather that you’re open to the idea that something better might be available.
Regardless of what coverage you have, you can search all Medicare plans, including prescription drug benefits – known as Part D Medicare
If You Have Original Medicare
This is coverage managed by the federal government and consists of Part A (hospital insurance) and Part B (medical insurance) coverage. Your policy is accepted anywhere that takes Medicare, and you don’t have to worry about seeing medical providers in a specific “network,” though you will be responsible for deductibles, coinsurance and a premium for Part B coverage.
Understand that Original Medicare doesn’t cover everything, and you may want to consider a supplemental policy and prescription drugs, eyeglasses, dental care (including dentures), hearing aids and exams, and long-term care. Another option is a Medigap policy, which can help with out-of-pocket expenses such as deductibles, copays and coinsurance. The time to sign up for a Medigap plan is within the first six months of becoming eligible for Medicare. After that, insurers can factor any health conditions you have when deciding whether to sell you a plan.
You may consider switching to Medicare Advantage (also known as Part C) if you want a single plan that includes services such as prescription drug benefits, dental or vision coverage.
If you’ve reviewed the information and want to stay with Original Medicare, no action is required on your part; your current coverage continues.
If You Have Medicare Advantage
Medicare Advantage includes both Part A and Part B coverage and is managed by private insurance companies rather than the government. These plans include PPOs and HMOs and resemble other private insurance plans sold to people of all ages. As with other types of health insurance, Medicare Advantage plans can vary dramatically in costs and coverage.
Unlike Original Medicare, most Part C plans include prescription drug coverage. Some may also offer dental and vision benefits not available through Original Medicare. In addition, Medicare Advantage plans have annual caps on out-of-pocket expenses.
It’s also important to check your provider network and that the doctors you see still participate.
Analyzing your health care needs for next year and looking at a variety of plans during open enrollment will help ensure you have the best coverage for 2018.
To choose right Medicare Supplement Plan, Medicare Advantage Plan, or Medicare Prescription Plan contac Sudhir Mathuria @ 713-771-2900.


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