At 417 Insurance and Investments in Springfield, MO, we are sure to take care of our Medicare clients every step of the way. When people are at the stage for enrollment, like when they turn 65, we explain the Medicare system and help them weigh their options. Ultimately, they end up with the right plan for their health, budget, prescriptions, and situation- knowing why that plan was chosen.
A second perk to being our client is that we do cost-free annual Medicare reviews each year. Medicare Advantage and Medigap plans, as well as Original Medicare coverages can change from year to year. There may be new rules in place that make one plan obsolete or give another plan advantages. You could be experiencing new health issues, or a provider may have left your network. All of these are important reasons to verify that you have the right Medicare plan every year.
Your Health May Change from Year to Year
As we age, our health can decline or we could need different prescriptions to stay healthy. If you have had a diagnosis or health concern pop up in the last year, there may be a plan that can offer more appropriate coverage. It just takes a few minutes to review different plans, but it could save you thousands of dollars or allow you access to the doctors you need to see.
Private Plans Change All the Time
Medicare Advantage and Medigap plans are private plans, so their companies determine what is offered. Plans can change from year to year to cover new benefits, change premiums and deductibles, and change providers or coverages.
Medicare Rules Can Change, Forcing Your Plan to Change
Medicare policies are always evolving. For example, certain Medigap plans have been made unavailable for new Medicare enrollees (after Jan 1, 2020). The premium and deductible for Part B can also increase, so it’s never a bad idea to shop around for the right plan.
Providers Can Leave Your Network
If you have a Medicare Advantage HMO (Health Maintenance Organization) or PPO (Preferred Provider Organization), then you have access to a network of doctors. Sometimes doctors leave these networks. They will usually give you plenty of notice, but it can still be a challenge to find a new provider, especially if you need ongoing care.
If you don’t need to see the doctor regularly, you could wait until annual enrollment to find a network that they are a part of. You can also find a different provider you like, and match your network to that provider. Annual reviews give you flexibility to see the doctor, healthcare provider, or hospital that you prefer.
Your health and your budget are too important to leave on autopilot. By doing a free annual review each year, you’re ensuring that your Medicare plan is still the right one for you. If it’s not, it’s easy to enroll in the plan that is. At 417 Insurance and Investments, we’re on your side through the years. We can’t wait to meet you.