By this point in the year, you probably have heard that the Medicare Annual Election Period will begin October 15ththrough December 7th, 2020.This is a great opportunity to switch your Medicare Advantage plan as there would be so many options available out there. Besides, if you’re on a Medicare Supplement (Medigap) and Prescription Drug Plan, this is also an wonderful chance for you to review your ongoing prescriptions, make sure that your plan still covers the drugs you take, and to confirm if the tier of medication hasn’t changed.
Many people, who are on Medicare Supplement plans, consider this time as their ability to change from one Medicare Supplement to another without taking their health status into account. To be true, if you live in Texas, this is not the case.
Let me clarify: you can absolutely shop around – switch your Medicare Supplement, but you will have to go through the underwriting process. If you are meeting with an agent to get yourself enrolled in a Medicare Supplement, they will ask you several health questions and then send your application to the insurance company for review. That insurance company will more than likely review your health information, prescriptions you take, etc. to determine if you are eligible to enroll in their plan.
In such a situation, you would surely want to speak with a licensed independent insurance agent, who concentrates solely on Medicare Insurance and therefore, they can help you determine what supplemental plan is right for you.
A concern that we often hear from the customers of Medicare Supplement is that their rates are no longer affordable. Many people feel that they should look at their options for Medicare Advantage. This is something that you should also do during the Annual Election Period. There are some important things to consider before making such a switch. We highly recommend speaking with a local licensed independent insurance agent to discuss whether or not, it would make sense for you to make the change. Here are a few important things for you to consider:
- Do my doctors work with the Medicare Advantage carrier I’m interested in?
- Should I become seriously ill, would I be okay finding a doctor in my insurer’s network or would I want to consult with a doctor of my choice?
- Would I reach the out of pocket maximum on my Medicare Advantage Plan?
There are many other things to discuss. At Texas Medicare Solutions, our agents always do a full needs analysis to get to know you and your specific situation. We understand the weight of making healthcare decisions and we do it on your terms. We can meet in person – socially distanced with a mask, over the phone, and even via a Zoom call, where we can still see each other’s face. Call us at 210-908-6565 to connect with a licensed agent in San Antonio, Dallas, Fort Worth, McAllen, or Waco.