The Clock is Ticking if You Wish to Reconsider Your Medicare Advantage Plan

The open enrollment period for Medicare Advantage (MA) is on until the end of March. If you have been thinking about changing your medical plan, time is running out and you need to act fast. However, your decision shouldn’t be a rushed one as many considerations need to be weighed before you make any decisions.

For starters, why would anyone think of changing their MA plan at this time? Many people have their preferred doctors or medical specialists and when those professionals are no longer in the preferred network of their plan provider, it is understandable to switch plans and keep getting your care from the professionals you prefer.

You may also wish to change MA plans or even switch back to original Medicare if you discover that the copay for a given service has increased and yet your income cannot absorb that additional cost. A number of Medicare Advantage plans now have deductibles that enrollees have to meet before the coverage kicks in. If the deductible on your coverage has increased to a level you aren’t able to sustain, switching plans now could be a helpful move.

You might also want to examine the drug coverage of your current plan in relation to the specific drugs you take on a regular basis, such as the medication for a chronic condition like diabetes. Pay special attention to the drugs covered by your policy, which preferred pharmacies are stipulated and any changes to the formularies indicated. If any changes made don’t align with your needs, it would be advisable to shop around for an alternative policy provider who will address your specific needs.

For individuals considering switching back to traditional Medicare, there are potential issues that you need to weigh before making your decision. For example, original Medicare often lacks the built-in upper limits on the costs beneficiaries will incur out of pocket during a given year. For that reason, it is advisable to obtain supplemental coverage, such as a Medigap insurance policy.

That supplemental policy can come in handy if you require medical care outside America because traditional Medicare only covers costs incurred within the U.S.

All in all, the decision to change MA providers or switch back to traditional Medicare shouldn’t be taken lightly. Do your research and get all the help you need, such as from SHIP or Medicare Rights Center. You can also contact your provider, such as Astiva Health for details about any policy relevant changes so that you can make an informed decision.

NOTE TO INVESTORS: The latest news and updates relating to Astiva Health are available in the company’s newsroom at https://ibn.fm/Astiva

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