Mistakes to Avoid When Deciding on the Best Medicare Advantage 2 Plan
SOLUTION # 1:
* Choose an independent insurance agent representing more than one insurance company. Because As independent agents you will know the pros and cons of ALL plans and can pass on this information so that you can make an educated decision. They receive compensation from health insurance companies, but are not loyal to any particular company. Also pay attention to carriers that force their ‘independent agents’ to sign an exclusive contract. I have seen this happen with the ‘Medicaid / Medicare Plans’. Again, how can the agent be ‘non-partial’ if contractually obliged to market only one plan?
** Choose a ‘certified’ Medicare insurance agent who can market Part C, Part D and MediGap plans. They have additional training and supervision.
*** When you go directly to the carrier, you are eliminating a valuable person who will solve problems if they arise while providing additional peace of mind throughout the process.
ERROR # 2: Choose a Medicare Advantage plan that requires insurance company approval before undergoing a procedure / test.
SOLUTION # 2: When comparing plans, see the ‘Benefits Summary’. All operators should publish them and be equal and easy to compare.
ERROR # 3: Pay no attention to the “maximum disbursement” (MOOP) limit. All Medicare Advantage plans have a MOOP, and many agents review it while helping to choose your plan. However, if a catastrophic medical problem arises (cancer, organ transplantation, extended stay in a qualified nursing center, etc.), there is a good chance that you will get to your MOOP to make sure it is right and as low as possible. The reason is that chemotherapy and anti-rejection drugs are considered Part ‘B’ ambulatory drugs, not Part ‘D’ prescription drugs, and many Plans only pay 80% of Part B drugs. So you would be addicted to 20 % e are very expensive.
SOLUTION # 3: Compare, Compare, Compare, and choose a plan with a lower MOOP.
ERROR # 4: Choose a plan just because drug payments are a little lower. Many smaller insurance companies will lure you into their plan with very low drug form co-payments, but they have a smaller network of doctors/facilities to choose from. The problem is that if a medical problem arises, it could be locked in the smallest network of doctors/facilities until the Annual Medicare Open Enrollment.