With open enrollment in full swing, the Mississippi Hospital Association (MHA) has launched an education campaign to help seniors and their families understand the differences between Traditional Medicare and Medicare Advantage plans offered by private insurance companies. Medicare enrollment ends on December 7.
“When considering a plan, it is so important to consider health care needs, financial impact, provider access, and other issues,” said Richard Roberson, MHA President and Chief Executive Officer. “Our hospitals are prioritizing high-quality care, which addresses every patient’s individual needs. We hope these resources will help Mississippi seniors and their loved ones choose a plan that also puts these critical concerns first.”
Medicare Advantage is a privatized alternative to Traditional Medicare. While Advantage plans may seem attractive with lower premiums and additional benefits, they sometimes come with risks, including limited in-network providers, high out-of-pocket costs, and prior authorization requirements.
Here are some tips for seniors and their families to help choose a plan that best fits their needs during open enrollment:
Do your research. Do not be swayed by aggressive advertising or sales tactics. Carefully compare Medicare Advantage plans with Traditional Medicare to understand the differences in coverage and costs. If you are a current Medicare subscriber, you should have received an Annual Notice of Change describing next year’s changes. For other products you are considering, carefully review the Summary of Benefits and the Evidence of Coverage.
Talk to your health care provider. Ask your hospital or another health care provider in your area about their experience with Medicare Advantage plans and how often their care recommendations are rejected.
Understand the plan’s network. Ensure that your preferred doctors and hospitals are included in the plan's network and will remain so in the future. A limited number of doctors and hospitals accept Medicare Advantage.
Be aware of out-of-pocket costs. Medicare Advantage plans may seem cheaper upfront, but denials of care can lead to unexpected and potentially high out-of-pocket expenses.
Consider the consequences of switching. Switching from Traditional Medicare to Medicare Advantage means giving up your Medigap coverage, which can be challenging to regain later.
Report any issues. If you experience problems with your Medicare Advantage plan, such as denials of care or misleading information, report it to Medicare at 1-800-MEDICARE or the Centers for Medicare and Medicaid Services.
For more information on Traditional Medicare and Medicare Advantage, including a suggested checklist for choosing a plan, visit www.mhanet.org/Medicare.