Medicare Advantage Plans Have Beneficial Aspects To Them, But There Are Lots Of Red Lights To Heed
Signing up for a new Medicare plan can be confusing. Here are some things to watch out for.
The Good, The Bad And The Ugly Of Picking Medicare Advantage Plans
Nearly half of all new Medicare enrollees are signing up for Medicare Advantage plans, which now account for about 35 percent of the entire Medicare market. The other 65 percent of Medicare beneficiaries are in what’s called original Medicare, which consists of Part A (hospital, nursing home) and Part B (doctors, equipment, outpatient expenses). Those patients usually have a private Part D drug plan, and a quarter have a private Medigap supplement policy. Anyone can get a Medicare Advantage plan or switch to one during open enrollment. Medicare Advantage (MA) plans must cover everything that original Medicare covers, and they can’t discriminate against people who are ill or have preexisting conditions. Anyone, regardless of their health, can get an MA plan or switch to one during open enrollment, which continues through Dec. 7. (Moeller, 11/14)