Have you been wondering when and if you can make a change to your Medicare plan?
Medicare’s Annual Enrollment Period, which runs Oct. 15 to Dec. 7, allows you to make changes to your plan, switch plans, or disenroll from a plan.
Since plans and benefits change every year -- and there are so many options -- it makes sense to know what’s out there and what to look for.
What does an insurance company prioritize?
Some health insurance companies focus on sick care. However, it turns out that when you make it easy for a member to stay healthy, you save money. That’s why some newer companies like Oscar Health focus on health care.
When companies focus on the health of the patients, they can offer more things that help members stay healthy -- like $0 copays and deductibles, prescriptions, dental benefits and even gym access.
What is it really going to cost me?
You’ll frequently see $0 when it comes to Medicare Advantage plans, but be careful.
Copays: Most plans will have copays -- the amount you pay for a specific service like a doctor visit, lab work, prescription and hospital stay, among other situations. Copays can really add up. Look for plans that offer more low or $0 copays on services you’ll likely use, like prescriptions or doctor visits.
*Tip: Some companies will provide you a card to keep out-of-pocket costs out of your pocket. Companies like Oscar do this to allow you to have extra money to cover copays and other unexpected health expenses, such medical equipment or a visit to an out-of-network doctor. Click or tap here to learn more about Oscar and the O-Card.
Prescription drugs: Many Medicare Advantage plans divide drugs into tiers, and will charge varying amounts for each medicine, depending on the tier. When choosing a plan, it’s important to know what tier your medicines fall in so you’ll always know the cost.
*Tip: Look for something like what Oscar offers, with 85% of the most-prescribed drugs in Tiers 1 and 2, which means they’re $0 for members on most plans.
Dental, vision, and hearing: Some plans don’t offer these benefits at all, or only offer basics like cleanings and annual exams. Plans that cover dental well will cover both preventive and comprehensive services, and ideally will have a $0 copay. Those are the plans to look for.
Extra benefits Some plans offer plenty of important extras, like $0 access to local gyms and $0 rides to doctor appointments, the pharmacy, or even the gym. Some even offer an extra $100 per quarter to cover over-the-counter items at the drugstore, like vitamins or allergy medication.
Who will really support your health and wellbeing?
You’re going to have questions or you’re going to need something, and so the big question is: Who’s going to be on the other end of the line when you do?
Care guides and nurses with Oscar’s Care Team strive to know their patients and the state of their wellbeing. They aim to simplify their experience by finding doctors, explaining bills or anything else they need. The team can also ensure patients have doctors who understand their culture and background so the patient can put their trust in those caring for them.
Can you trust a new company like Oscar?
The government uses strict rules and regulations to ensure that all Medicare Advantage plans offer you everything the government does. This is true of well-established companies, as well as companies with innovative ideas and benefits. Patients should rest easy know that they’re covered, no matter what.
Your plan for finding a plan?
There’s no one-size-fits-all approach to Medicare Advantage, so it’s important to do your homework. To get a more detailed guide on what to look for in a plan, along with a helpful worksheet to compare plan options, tap or click here, and talk to a licensed Medicare Advantage specialist.
Oscar is an HMO with a Medicare contract. Enrollment in Oscar depends on contract renewal. Plan benefits and limits vary by plan type.