Are you eligible for Medicare? Do you have friends or family who are Medicare eligible?
Now is the time to review your Medicare Advantage options and make changes for 2015. Throughout the Medicare Annual Election Period (AEP), also known as the Annual Enrollment Period, it is recommended that Medicare beneficiaries compare all available plans in order to avoid unnecessary spending, as well as making sure all of their medical needs are accounted for in 2015.
When comparing Medicare Advantage and Prescription Drug Plans during the Medicare Annual Enrollment Period, here are some things to consider:
Medicare Advantage (MA or Part C) Plans
•Consider all of the costs associated with the MA plan of interest. Medicare Advantage costs will often fluctuate by plan, including the premium, deductible, copayment, and coinsurance amounts. MA plans are required to state annual maximum out-of-pocket costs upfront, and some of the plans could offer $0 monthly premiums.
•Does your Medicare Advantage plans include prescription drug coverage?
•As an added incentive, many MA plans may include benefits that extend beyond what is covered by Original Medicare, which could include vision benefits, dental coverage, and/or health and wellness benefits.
•Does the plan cover your preferred health care providers?
Medicare Part D Prescription Drug Plans (PDPs)
•Are the medications you need covered?
•Which tiers do your prescription drugs fall into?
•What is the estimate for your total out-of-pocket expenses for the year? Part D plans have a monthly premium, as well as deductibles, medication copayments, and other costs to consider.
•Are there limitations placed on your drugs?
Call Tyler Insurance Group today to schedule a time to review your Medicare coverage.