If you have Original Medicare or Medicare Advantage, you may be considering switching to the opposite plan. The decision to switch plans is big, so don’t make it without completely understanding what you exchange when you switch.
Before switching Medicare plans, ask yourself the following.
If I Switch, Will I Have The Coverage I Need?
When you switch plans, your benefits often change. You need to look at the benefits that the plan you’ve chosen will provide you and evaluate whether or not you have the coverage you need. Insurance plans are changed every year, so make sure you look at up-to-date information about the plans.
Always watch out for health benefits that have been removed from the plan. If they’ve been taken out of the plan and you need those services, you may need to consider another plan. Similarly, prescription drug coverage plans often change their formulary from year to year. This can impact the cost and availability of certain drugs that you need.
Can I Afford The New Plan?
Cost is an important factor to consider when choosing a new Medicare plan. Your costs may change year to year when you pick a certain plan, but they won’t increase or decrease dramatically. To gauge whether you can afford a plan, think about how much you spent in the last year. Then, choose a plan that offers pricing in that range.
Out-of-pocket costs like deductibles, coinsurance, and copayments are important to review as well. Premiums may be low, be these costs can limit your ability to access care if they are too high. To find a plan that offers pricing that works for you, work with an insurance agent today.
Does This Plan Allow Me To See My Preferred Providers?
Plans often change their provider and pharmacy networks every year. If you are looking into a new plan, make sure it covers the providers you like to see. Go through the plan details carefully to ensure that your doctor and any other providers you need to see are in the network. Most providers will give you a full network list of providers they work with.
Get Help Choosing a Medicare Plan
Choosing a Medicare plan is a complex process. You need to compare your options and choose the one that fits your circumstances best. Fortunately, Magellan Healthcare is here to help you find a Medicare plan that works.
Give us a call at 866-779-3553 to start comparing plans.
