The Medicare Annual Period is almost over

The Medicare Annual Enrollment Period is almost over. Remember that this is the Medicare period that takes place every year. october 15 to december 7 and is the opportunity for people with a Medicare Advantage Plan to make a plan change or for people who have a prescription drug plan to review drug costs for the coming year and also make a change if necessary. Also, some people who have a Medicare Supplement Plan may want to transition to an Advantage Plan.

As mentioned above, this period extends until the December 7thso you are almost in the home stretch. If you haven't done this plan review, now is the time.

You may wonder why it is important to do this review annually, and the truth is that all of these plans have an out-of-pocket maximum, which is what you would pay per year if you were to use the plan to its maximum. These out-of-pocket maximums tend to vary. If it is an HMO plan or a PPO plan, the out-of-pocket maximum can range from $3,000 to $11,000. So, in order to do this review it is important to know what is really important to you for the coming year.

Among the things that are important to consider when doing this plan review is the cost of medicines. If you take medications it is important to do this review to verify the plans that provide you with the most drug coverage, because each plan has what is known as a "drug plan. formThe drug tiering system, which classifies drugs by levels and from one year to the next, the level of drugs may change, a drug may not be covered by a plan from one year to the next, or the cost of drugs may change.

Other aspects to be taken into account are the benefits you want to receive for the next year. Remember, on an annual basis you can make a change by taking advantage of and accommodating benefits according to the specific needs you have for the coming year. For example, a person who has pending dental work may find a plan that will help most with the dental benefit.

There are people who unfortunately live alone, do not have transportation to their medical appointments and for these people their transportation is important, so there are plans that offer these benefits.

The savings with respect to the medical and hospital costs it is extremely important to know and compare in reality which is the pocket maximum The cost of the plans, i.e., what is the cost in the event of hospitalization. This can be one of the highest costs of these plans, along with other services that one pays for little by little as one uses the plan, such as laboratories, visits to specialists, an emergency room, use of the ambulance. These are all costs that you are exposed to as you use the plan. It's very different for someone who has a plan that has Medicaid, because the costs are different, but for someone just with a Medicare Advantage plan, it's important to compare these costs as they have to use the plan to the fullest extent possible.

Another cost you must bear, in the event of a cancer diagnosis, is chemotherapy and radiation treatments. With an Advantage plan, the co-payment for these treatments or for drugs placed by doctors in their offices is 20%, but there are options to help you with these co-payments. Purchasing a cancer policy can help you with these treatments. The benefit with these policies is unique. That is, if you purchase a benefit of $25,000, in case you are diagnosed with cancer, you receive a check for that $25,000 and you use it for the different co-payments, deductibles, transportation, hotel in case you want to be treated in a different city. It can also be used for the cost of medical payments or whatever the person deems necessary.

In short, if you have not done a review during this Medicare Annual Period, remember that you have until December 7 to do so.

Contact your independent agent, as he or she, like us, works with most insurance companies because we know that our clients need a broader portfolio of plans and companies.

If you do not have an independent agent or an agent in your area, call us at Avila Medicare Solutions to help you with this review. When doing so, please have handy the different medications you take, the name and dosage. Also the list of doctors you are seeing.

Do not wait for this period to end or wait until the last minute because someone may suddenly not be available to help you. It is best to do this early, as there is still time to do this review.

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