What To Consider
Whether you are selecting a plan for the first time or switching plans, here are some things to consider:
- Cost - How much will you pay out of your pocket for health coverage? The costs include: premiums, coinsurance, copayments and deductibles.
- Benefits - It is important to know what is the same and what is different when you compare policies. For example, choosing between Original Medicare insurance and Medicare Advantage (Part C) look at how much choice you will have in doctors and facilities; are the extra benefits like dental or vision that might be included in Medicare Advantage of value to you?
- Doctor and hospital choice - With Medicare Advantage Plans you will find restrictions in your choice of doctors and hospitals. Do your doctors accept the new plan you are considering? Are you willing to change to doctors within the network if necessary? Do you need a referral to see a specialist? Is the hospital you favor in the plan network? If you travel extensively or live somewhere else during part of the year, will you have the access you want wherever you are living? Are the network doctors conveniently located?
- Prescription drugs - What will your prescription drugs cost under the plan's formulary? If you are anticipating changes in your medications, how are the new drugs covered? Is the pharmacy you prefer one you can use with the plan?
Think you made the wrong choice? You may not be able to change plans for another year. So, if you are thinking about changing from Original Medicare (Part A and Part B) to a Medicare Advantage plan, make sure you understand how your access to care and costs will change.
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