Medicare is Offically Letting People Have a Do-Over Until March
Healthcare has got to be the most important thing that everyone must prioritize in their lifetime. Everyone wants to have that kind of security when it comes to dealing with healthcare since it could be painfully expensive for most people. In the United States, there is a health insurance program that is available for Americans known as Medicare. It was started a couple of decades ago.
They provide health insurance for those who are qualified for it as well as to younger Americans with some disability that are determined. This health insurance program is actually funded by the payroll tax as well as the gender United States Treasury. There are now over 58 million individuals who are insured by Medicare and 49 million senior citizens above it. There different kind of plans that Medicare offers, just like the Medicare Advantage Plan, and recently there was an announcement that could either be good or bad for you.
Grab The Do-Over
The open enrollment period for Medicare closed the last 7th of December, which is literally over a month from now. However, there was an announcement that has been made wherein they said that there will be an open enrollment once more that is happening between the 1st of January till the end of March. This is specifically for Medicare Advantage Plan. It is very difficult to determine what kind of plan you would think is best suitable for you.
The Original Medicare is basically the most flexible one of all since if you have it then you’ll be able to use it to choose your own health care providers. Despite that, it can be a little too complicated when it comes to receiving your benefits, which is why most people think it is best to have the original Medicare along with the Medicare supplement plan so that the copayments, as well as the deductibles and prescription drugs, will be a part of it.
What most people don’t really know is that the Medicare Advantage plan offers a one-stop shopping since it could combine all of the prescription drugs, but this would also mean that you must only see one healthcare provider.
This do-over is for those people who think that they are in the wrong Medicare plan.
There are a lot of people who realize that their doctors are not a part of the network or that their medications aren’t exactly covered. Some people, however, don’t particularly like the customer service so they would like to change it. Those who are in Medicare Advantage Plan may also grab this opportunity to switch to the original Medicare.
It was also reported that until the end of March, those who have missed the initial enrollment for Medicare, may grab this chance to enroll even if they didn’t qualify for an exclusion. Those who can’t exactly make it will have to wait until the 1st of July to enroll again.
Despite all the change that you can make, there are still some restrictions. Just like when you plan on moving to a different Medicare plan, then you cannot exactly have it changed or switch it till the next fall enrollment.
Do you have #Medicare along with other health insurance? If so, you may be wondering “who pays first?” See how Medicare coordinates with your other coverage: https://t.co/uNpLmgcBfk pic.twitter.com/Ff0bXA4QqW
— Medicare.gov (@MedicareGov) January 9, 2019
Pros and Cons
Some health insurance experts believe that there are actually a few pros and cons when it comes to switching to another program or plan for Medicare. What people need to remember is that every single Medicare plan comes with a maximum out-of-pocket limit depending on the total costs that you will spend every single year on healthcare.
When the limit has been reached, then that obviously means that you will not be spending a single penny, but each plan has a different limit that has the possibility to change every year. That could be one disadvantage for you since it can be quite confusing once you keep in switching from plan to plan.
One advantage, however, would be the choice of the new plan benefitting you since that means you don’t need to suffer being in a plan that you personally don’t want to be a part of or that you could fix a mistake by trying the other plans. Unfortunately, you wouldn’t know what is actually suitable for you unless you try them out. Expect major changes though since every plan is different.
More in Insurance
Guess How Much Nicki Minaj, Who Retracted Her Retirement Statement, Earned Last Year
When Nicki Minaj announced that she was retiring in September, everyone was confused and her fans went wild. Is this for...October 17, 2019
This is How American Singer and Lion King Star Donald Glover Impressively Earned THIS MUCH Last Year!
It’s hard not to love David Glover in all his glory. The man is undoubtedly talented – from acting, singing, rapping,...October 16, 2019
This Model’s Brainchild is Now an Eight-Figure Company – That’s Because of These Jaw-Dropping Secrets
You always hear about successful entrepreneurs saying putting up your own business from scratch is hard. This is in no way...October 15, 2019
Thinking about a Career Change? These Are the Unexpected Things That Might Happen During the Process
The hard truth is this: if you really don’t want your work, it won’t adjust for you to like it. There...October 14, 2019
Superman’s Intervention: Here’s How Much Billionaire Li Ka-Shing Pledges to Aid Struggling Businesses in Hong Kong
Every cloud has a silver lining, the proverbial saying goes, and as much as it is nice to look at the...October 11, 2019
Think You Know Everything about Retirement? This Man Left Work at 65 and Was Shocked to Learn About These Things
We’ve all dreamed of handing our resignation letter to our bosses without thinking if we could live another day without a...October 10, 2019
It’s Hard to Talk to a Difficult Employee but We Know These Secrets to This Rigorous Task
As a boss, you can’t escape having to deal with toxic employees despite having to think about tons of other things....October 9, 2019
Building Your Credit Score Is Not THAT Hard – You Might Already Be Improving Your Rating Unknowingly!
You may have not heard of the term credit score until you needed to borrow money for something pricey you’ve been...October 8, 2019
Being a Manager Means Being an Effective Coach: Here’s How You Can Become a Better Leader
Being a manager may sound easy if you’re an employee reporting to one but they are also burdened with several tasks...October 7, 2019