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5 Tips for Picking the Right Medicare Plan
Maintaining good health is critical, and it all starts with having a health plan that works for you every day, and especially in times of greater need.
The Medicare Annual Election Period (AEP) from Oct. 15 through Dec. 7 is an opportunity to ensure you have needed coverage.
"Now is the time to understand and evaluate your benefits and anticipate the care you may need in 2023," says Dan Hoemke, market president for Cigna Medicare in Arizona. If you're signing up for Medicare Advantage for the first time or making changes, you can do so during AEP. The new benefits will kick in on Jan. 1, 2023.
The process of choosing a health plan can be overwhelming. You can eliminate some of the confusion by seeking advice from your doctor or family and friends. By attending in-person or virtual seminars or calling independent health plan agents, you can have your questions addressed by experts. You can also visit your state health insurance assistance program for additional information.
Keep these tips in mind as you review plans:
· Estimate total costs: Know the current premium or monthly cost of your plan. Check your Annual Notice of Change letter that details changes to out-of-pocket costs, including co-pays and deductibles on doctor and hospital visits and prescription drugs. Check the costs to see a specialist.
· Ensure providers are in-network: Confirm that your current providers and any specialists you expect to visit in 2023 are still in your plan and that any new doctors you'll be visiting accept new patients.
· Review your prescriptions: Review the drug pricing tiers to determine whether your prescription plan will cover your current medications and the costs. Some drug plans require prior authorization for certain brand-name drugs.
· Consider extras: Take a close look at extra benefits, such as dental, vision, health care-related transportation and virtual care visits, that go beyond what's provided by original Medicare and may be built into a private insurer's Medicare Advantage plan. Some plans may include additional health and wellness benefits that help you stay healthier, like fitness programs.
· Be aware of travel restrictions: If you plan to travel or have another home out of state, consider plans with that in mind.
· Learn about a plan's quality and ratings by the Centers for Medicare & Medicaid Services (CMS): For example, Cigna has been named "Best Medicare Advantage Plan Company" of 2022 in Arizona by U.S. News & World Report. In addition, CMS released its 2022 Medicare Stars Quality Ratings for Medicare Advantage plans and Cigna's Medicare Advantage plan in Arizona received 4.5 stars out of 5 stars.
Visit Medicare's Plan Finder at Medicare.gov or Medicare plan websites such as www.cignamedicare.com to assist you in reviewing your options.
"Making sure your health plan meets your needs is up to you. After finding the right plan, be sure to take advantage of your benefits for a healthy, happy 2023," says Hoemke.
