Medicare Advantage Plans
Once you are eligible for Medicare coverage you must decide on the plan that best suits your needs. Most Medicare Advantage Plans offer Part D Prescription Drug coverage. There are many carriers available to coastal residents and the surrounding towns and cities such as Hood River and The Dalles. It is important to know what is covered when searching for a Medicare Advantage Plan.
Medicare Advantage Plans traditionally operate within a network. Each carrier offers different benefits with varying out-of-pocket expenses. Plans and rates are locked in for one calendar year and are subject to change. This means it is critical to carefully monitor any changes to your plan to make sure it still meets your needs. Because of changes to plans and varying out-of-pocket expenses we recommend reviewing your coverage during the annual enrollment period each year.
Medicare Supplement Insurance Plans
Medicare Supplement Insurance Plans do require that the purchaser is covered by both Medicare Part A and Part B. Every Medicare Supplement Insurance Plan policy must follow federal and state laws designed to protect you, and it must be clearly identified as “Medicare Supplement Insurance.” Insurance companies can sell you only a “standardized” policy identified in most states by letters.
All policies offer the same basic benefits but some offer additional benefits, so you can choose which one meets your needs.
Each insurance company decides which Medicare Supplement Insurance Plan policies it wants to sell, although state laws might affect which ones they offer. Insurance companies that sell Medicare Supplement Insurance Plan policies:
- Don’t have to offer every Medicare Supplement Insurance Plan
- Must offer Medicare Supplement Insurance Plan A if they offer any Medicare Supplement Insurance Plan policy
- Must also offer Plan C or Plan F if they offer any plan
While plans won’t change, monthly premiums will. With many carriers offering Medicare Supplement Insurance Plans it can be hard to find the best possible rate. We work closely with our clients to ensure that they are paying the lowest possible monthly premium for the plan that best meets their specific needs.
To further explore all your options and ensure you select the best possible plan for your needs, please contact one of our licensed insurance agents at BK Insurance Services.