Can you rely on your Medicare Agent?

Medicare Insurance Plans have become more complicated over the years. Can you rely on your Medicare Agent for current updates? There are many changes each year to Part C Medicare Advantage Plans and Part D Prescription Drug Plans.

Each year the Medicare Supplement Plan (Medigap) can increase, and you do need a Part D drug plan which may change each year. This blog will give basic information about changes that can happen each year. Ask the question, does your Medicare agent keep you updated each year?

Part C Advantage Plans:

What can change each year with your Advantage Plan?

• It could be discontinued. The Advantage Plans are only guaranteed for one year, from January 1 to December 31.
• Most Part C plans give you Part D, which has a formulary of which drugs it will cover. The formulary can change every year, which means you need to check to see if your drugs are covered.
• Each Advantage Plan can change its provider network.
• A) If you have an HMO, your doctors or hospital may not be available to you.
• B) If you have a PPO, your doctors or hospital may go out of network, and you will have to pay more to use their services.
• Your coverage may include deductibles or maximum out-of-pocket along with other benefits that can change.

Stand Alone Part D Drug Plans:

1. It can be discontinued. The Part D drug plans are only guaranteed for one year, from January 1 to December 31.
2. The formulary can change every year so you need to check to see if your drugs are covered.

Conclusion:

If you have purchased your Medicare Insurance Plan, you must stay vigilant and keep up with all the notices and changes, especially during Open Enrollment. If you purchase a plan directly from a company’s captive agent they will only be able to advise you of their company plans and will not be able to compare to other companies’ plans. Your best solution each year when selecting and comparing your Medicare Insurance Plan is to use a reliable independent Medicare Broker like www.welchinsurance.net 

If you would like to compare Medicare Advantage Plans, Medicare Supplement Plans, or Part D drug plans in your area and live in one of the following states, tap on the state: Arizona, California, Nevada, Oregon, or Washington.

Call 800-641-3315 and ask for Roy.

Or SCAN the QR Code below.

If you live near Huntington Beach, California, and would like a local Independent Medicare Agent with experience. Please visit Welch Insurance for Medicare.