Some seniors opted into Original Medicare, while many more joined Medicare Advantage, that combines Medicare Parts A and B into a plan designed to reduce the premium costs of Medicare. However, not all seniors are familiar with the different Medicare Advantage plans, or the ways they differ from traditional Medicare.
Most Medicare Advantage Plans provide certain benefits, as well as premium protection and other out-of-pocket costs reductions, depending on the plan. Most Medicare advantage plans 2022 cover some of the medical expenses that Medicare does not pay, such as deductibles, co-pays, and some hospitalization benefits.
Even though you may be enrolled in a Medicare Advantage plan, you must follow the same rules that apply to enrollment in Medicare Parts A and B, such as maintaining Medicare eligibility, receiving scheduled physician visits, and maintaining detailed medical records. All medications and prescribed medical procedures must be covered under Medicare Parts A and C, respectively.
Although you must follow the same enrollment guidelines as with traditional Medicare, some changes have been made to make it easier for seniors to enroll in Medicare Advantage plans. Starting in February 2021, Medicare Part A and B were combined into a single supplement called Medicare Part D. This new program expanded the range of services that Medicare covers, and also includes several additional services that are not available through Medicare.
Although open enrollment for Medicare Advantage plans is voluntary, some seniors prefer to enroll each year, rather than waiting until their turn comes up each month. However, most plans include an option for patients to choose open enrollment. Some plans allow for open enrollment, and charge a fee for it; depending on the state you live in, your premium may also be determined by the state’s regulations.
If you are considering switching to an Advantage plan because you like the service better, there are several Medicare tips that you should be aware of. The first of these is that if you are currently receiving Medicare benefits, but are not enrolled in Medicare, you should immediately contact your current provider to inform them that you will be enrolling in Medicare Part D.
They can then provide you with a Medicare prescription drug benefit, which allows you to fill out your prescriptions without a Medicare prescription card. In addition, there are several online resources that you can visit in order to find out more about enrollment in Medicare. These include webinars, tip sheets, and informational videos.
Many seniors who are moving from one Medicare benefit to another, such as from a traditional private insurance plan to Medicare Advantage plan, will also find themselves concerned about long-term costs. Unfortunately, many seniors do not understand that when they enroll in Medicare Advantage Plans, they are subject to additional costs.
These costs can consist of a number of things, such as co-payments for each doctor visit as well as Medicare Part D premiums and any hospitalization costs that you may need. As long as you understand what your future costs will be, you can avoid signing up for Medicare Advantage plans that will result in additional costs. It is important to talk to a Medicare representative regarding these issues, in order to determine which plan will best meet your needs.