3 reasons to switch from original Medicare to Medicare Advantage during open enrollment
Open registration for Medicare begins this week and ends Dec. 7, and this is a key opportunity for current registrants to change their coverage for the better. If you are currently enrolled in original Medicare (Parts A, B, and D), you may want to consider switching to a Medicare Advantage plan instead. Here’s why it could really pay off.
1. You can get more comprehensive coverage
Many older people are shocked to learn that the original Medicare will not pay for a number of essential health services, such as dental care, eye exams and hearing aids, which older people have. usually need all the time. But Medicare Advantage in general will pick up the tab for these services. Not only that, but some Advantage plans offer additional lifestyle benefits, such as transportation to a doctor’s appointment, home living assistance, and even meal delivery services. You may also be entitled to certain fitness or wellness benefits as part of your Advantage plan.
2. Your coverage may be cheaper
Unlike Medicare Part B, which charges a universal monthly premium, there is no one-time cost associated with Medicare Advantage. Rather, your costs will depend on the specific plan you choose. When you sign up for Medicare Advantage, you will still have to pay your Part B premiums, and you may need to pay another premium on top of that. Or not.
There are a multitude of Advantage plans that do not charge a premium, and even if you do get stuck paying one, in exchange, you won’t be paying for a Part D drug plan, since Advantage plans offer full coverage that includes prescriptions. Plus, when you factor in how much money you’ll save by not having to pay out of pocket for important services like dental cleanings or eye exams, it justifies serious savings.
3. You can try an Advantage plan before committing to it.
Switching between health plans can be nerve-racking. After all, if you’re on a tight budget or get most of your senior income from Social Security, you can’t afford any financial surprises. The advantage of Medicare Advantage is that you technically have the option of trying out a plan before committing to it for an entire year. If you choose an Advantage plan during the fall enrollment and find out early next year that it isn’t working for you, you will have the option of choosing a new Advantage plan or even going back to the original health insurance, provided that no later than March 31.
Is A Medicare Advantage Plan Right For You?
To be clear, Medicare Advantage is not perfect. On the one hand, it limits you to a narrower provider network, whereas the original Medicare allows you to receive care pretty much anywhere in the United States. to try Medicare Advantage, especially since you have the option to opt out in the first three months of 2021 and return to the coverage you’re used to.