Time to Compare (and possibly change) Medicare Plans

The annual period for switching Medicare plans is Oct. 15 to Dec. 7. Only 30% of Medicare beneficiaries shop around annually. BUT... they really should compare options every fall.

    Medicare recipients have the option of traditional Medicare + a Medigap policy + Part D drug plan OR a Medicare Advantage Plan. The main difference is that traditional medicare offers access to any providers that accept Medicare while Advantage plans, sold by insurance companies, are essentially a Preferred Provider program that limits participants to the network's doctors and facilities. 

    Medicare Advantage plans typically cover hearing, eye, and dental care that are not covered by traditional Medicare. Further, Advantage Plans often offer free access to fitness clubs and other benefits focused on keeping participants healthy.  

    Having recently compared AARP/United HealthCare Advantage plans, one with a $39/month premium to their $0/month premium (not a typo) I was shocked to see how similar the plans were despite the cost difference.  

Review your options each autumn!