Certain insurance companies are not renewing Medicare Advantage plans in 2013, and about 100,000 policyholders will be losing their coverage.
(PRWEB) January 08, 2013
Certain insurance companies are not renewing Medicare Advantage plans in 2013, and about 100,000 policyholders will be losing their coverage. There is a special enrollment period for these beneficiaries until February 28 when they can choose another Medicare Advantage plan with or without prescription drug coverage.
“Medicare Advantage plans provide Part A benefits, basically for hospital care, and Part B benefits, primarily for doctor services,” says Wiley Long, President of MediGap Advisors. “In addition, most Advantage plans add on prescription drug coverage, like that available through Part D Prescription Drug plans.”
Medicare Advantage plans often pack in other benefits that original Medicare doesn’t. Coverage for dental expenses, eyeglasses or hearing aids, and sometimes health club memberships are included.
Until February 14 every year, beneficiaries have the option of changing from Medicare Advantage to original Medicare and adding a Part D Prescription Drug plan, and/or a Medicare Supplement plan, called a Medigap plan. Traditionally, they do not have a chance to switch from one Advantage plan to another at this time.
While each alternative has its own merits, beneficiaries need to compare different plan rules and out-of-pocket expenses. For example, most Advantage plans restrict coverage to a network of doctors and other providers in non-emergency situations. These plans may cost nothing beyond Part B Medicare premiums while covering more than Medicare. Beneficiaries have the chance to learn more and ask questions Tuesday, January 8, during a live educational telephone seminar. Free registration is available on our teleseminar page. This event is only for educational purposes and no plan-specific benefits or details will be shared. We have also recently release a new report titled "Medicare Advantage Made Easy." Pick up your free copy today!
About Medigap Advisors:
As the nation's leading independent online expert on supplementing Medicare, Medigap Advisors offers personal service to help Medicare beneficiaries avoid major out-of-pocket expenses like Medicare deductibles and co-insurance.
Medigap Advisors also provides confidential consultations to compare coverage options from different insurance companies by calling 1-866-323-1441 between 9 AM and 11 PM Eastern. In addition, powerful online tools to help cut the cost of health care are available on our website.