Medicare Advantage 2018
As the Medicare Advantage 2018 Annual Enrollment Period draws near there are some things to keep in mind for 2018. From a 30,000 foot overview, there is not expected to be a lot changing in 2018 for Medicare Advantage in general. Rural areas can expect to lose some plans depending on the area of the country. There have been no significant cost increases that would cost all plans to lower benefits as a whole, but any individual plan could have big changes.
- Your plan can change the benefits annually.
- The Prescription Formulary used by your plan can change.
- The network of doctors and hospitals can change.
- Premiums and co-payments may change.
Annual Notification of Change
If you are enrolled in a plan for 2017 you will be receiving the Annual Notification of Change letter towards the end of September. Do not throw this away (I know, you get so much mail from your current insurance carrier) because it will notify you of any changes to your plan for 2017. If you are happy after verifying the changes and new cost structure, then you do not need to do anything for 2018. Your plan will automatically be renewed. However, if some of these changes do not sit well or you just want to compare your plan to another, you have from Oct 15th to Dec 7th of 2017 to make a change. If your plan is leaving your county of residence you can not only pick another plan, but you are opened up for choosing a Medigap policy under Guaranteed Issue rules if you so choose. If this is the situation, you have until the last day of February 2018 to make your choice. However, that may leave you exposed, so deciding by December 31st if possible is advised.
There seems to be a noticeable increase in some benefits being offered by a wide range of plans that is a positive in our eyes.
Some of these increase in benefits include:
- Basic dental benefits
- Eyeglass benefit
- Hearing aid benefit
- Over-the-counter pharmacy benefit
- Hospital observation benefit
Shop Plans in your Area
Check the plans in your area to see which benefit package will suit your health care needs better. Do not be afraid to look at another company. People flocking to a carrier that offer certain benefits are what causes that benefit to be offered by more carriers. 2018 plan information will not be available until October 1, 2017.
Finally, if you have not reviewed your plan in a few years, I highly recommend you do it this year. If nothing else it will give you peace of mind that you have the right plan for you, but it may just surprise you as to what is available for you in 2018.
Find out about your plan today! Call us at 877-562-1845 or submit your information below.