Choosing the right Medicare plan is no easy task. And doing it on your own can be overwhelming. Fortunately, there are plenty of resources available to help you understand your options and make a decision with confidence. If you are considering a Medicare Advantage plan, you'll want to be confident that the one you are choosing is right for you. With so many Medicare plans available, it can feel like a gamble if you do not take the time to research and ask the right questions. In this article we will share some of the top questions you should ask when enrolling into a Medicare Advantage plan to make the right choice for you.
The Medicare Advantage Basics You Should Know First
First things first, let's cover some Medicare Advantage basics.
What is a Medicare Advantage Plan?
A Medicare Advantage Plan (MA/MAPD) is a Medicare-approved plan offered by private companies that provides all the benefits of Original Medicare (Parts A and B). Medicare Advantage plans are also known as Medicare Part C. You must be enrolled in Medicare Parts A and B to enroll in a Medicare Part C Advantage Plan.
Here are some other things you should know.
Medicare Advantage plans are different from Original Medicare; although they cover many of the same services, they often provide additional benefits, such as coverage for prescription drug medications, vision, dental and hearing. Another difference is that Medicare Advantage plans (MAPD) provide enrollees with financial protection by means of annual max-out-of-pocket, whereas Original Medicare does not have a limitation in place. These are a couple of reasons why many medicare beneficiaries decide to enroll in a Medicare Advantage plan. In fact, over half of the population of those in Medicare are enrolled in a Medicare Advantage plan.
Learn More: What is a Medicare Advantage Plan (And Do I Need One?)
The Top Questions to Ask Before You Choose a Medicare Advantage Plan
It's important to be aware that Medicare Advantage plans differ. Everything from the premium they charge for the plan, whether they include prescription drug coverage, what providers are in-network, and how they work when you travel. This is why it is essential to ask questions before enrolling in a Medicare Advantage plan (MAPD) so you understand how the plan works and what's covered and what is not so you can choose the plan that works best for you.
Some questions to ask include:
- Does this plan cover my current doctors and specialists?
- Are my prescription drugs covered, and what will they cost?
- What are the monthly premiums and out-of-pocket maximums?
- Are there extra benefits like dental, vision, or hearing?
- Do I need a referral to see a specialist?
- What’s the plan’s star rating or customer satisfaction score?
- What happens if I travel or spend part of the year in another state?
- Are there copays or coinsurance for key services?
At Twin City Underwriters, we use questions like these to guide our professional Medicare recommendations for our clients every day. Our SurePlan Medicare System® is our unique propriety method that ensures the medicare plan you choose is ideal for your personal budget, health and lifestyle needs.
Frequently Asked Questions About Medicare Advantage Plans
How to Compare MAPD Plans with Confidence
Comparing Medicare Advantage plans can leave individuals feeling overwhelmed, but being informed with the right Medicare education can position you to make better choices and choose the right Medicare Advantage plan.
Here are some ways for doing just that:
- Use the questions outlined above
- Download the official Medicare Guide Handbook
- Attend an in-person Medicare Workshop or Medicare 101 - Online Webinar
- Use official online comparison tools such as Medicare.gov
- Work with an experienced Medicare insurance broker
Following these recommendations for your MAPD comparison will help you navigate your Medicare decision with confidence.
Common Mistakes to Avoid When Enrolling in a Medicare Advantage Plan
Now that we have covered what you should do, let's look at what you want to avoid doing when comparing and enrolling in a Medicare Advantage plan.
Some Medicare enrollment mistakes to avoid include:
- Not reviewing the provider network
- Overlooking prescription drug coverage
- Assuming all MAPD plans are the same
- Missing important enrollment deadlines
Get Support for Your Medicare Insurance Planning and Decision-Making
Although we've covered a lot of tips and tactics to help guide your Medicare insurance planning and decision-making, you may still be looking for personalized support and help with Medicare Advantage plans. At Twin City Underwriters, we are a team of insurance professionals who have helped thousands of Medicare beneficiaries over the years; we are proud to provide comfort, confidence and support to seniors as they make these impactful decisions.
Attend one of our upcoming Medicare 101 sessions or contact us to get started with a free no-obligation consultation for personalized medicare plan matching and hands-on support throughout your entire Medicare journey - from comparing, enrolling and renewing. We are dedicated to being your Medicare Partner for Life.
Choosing a Medicare plan can be difficult. Twin City Underwriters helps Medicare recipients in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa and Florida find the Medicare plan that meets their unique needs. Schedule a one-on-one meeting with one of our Medicare insurance brokers to get your questions answered!
Do you need help with Medicare, insurance and health plans? Explore your options with Allina Health Aetna, BlueCross BlueShield of Minnesota, Medica, UCare, United HealthCare and more. We work with you to find the best plan for your needs and budget. Contact us today to get started.