Seniors, do you need to make a change to your Medicare coverage?
The Medicare Annual Enrollment Period (AEP) for 2022 is from Oct. 15 to Dec. 7, 2021.
Texas Medicare Solutions explains some of the key points to value when updating your Medicare plan.
Why is the Annual Election Period so important?
“It’s super important because it’s an opportunity to review your benefits next year,” said Natalie Gamez, licensed insurance agent for Texas Medicare Solutions. “Your needs may change with your plan coverage. Plans can change every year. The benefits you had for the previous year may not be as good in 2022. Also, many carriers are introducing increased benefits for 2022.”
What Is Medicare Advantage?
A Medicare Advantage plan is available to provide more options for Medicare beneficiaries. Medicare pays private insurance companies a monthly premium to be your insurance company.
When you are insured on a Medicare Advantage Plan, your private insurance company pays a portion of your claims while you pay a copay. A copay is different from the co-insurance that you pay with Original Medicare (20% for Medical Services Covered by Part B).
A perk of the Medicare Advantage plan is the maximum out-of-pocket limit which is the most you could be billed for medical services in a year. All Medicare Advantage Plans in Texas have a maximum out of pocket.
Can I choose my own doctors on a Medicare Advantage Plan?
According to Texas Medicare Solutions, there are two types of Medicare Advantage plans that most people use; PPO and HMO.
PPO - With a PPO, you can choose from a large network of doctors and referrals are not required. Usually, the costs on a PPO are higher than they are on an HMO.
HMO – In the HMO plan, you can choose a Primary Care Physician (PCP) from a network of doctors. Your PCP will coordinate your care. If you need to see a specialist, they will refer you to a specialist from within the network.
If you are interested in speaking with a local licensed agent about Medicare, Texas Medicare Solutions has four offices in San Antonio to serve the community.
“Many Medicare beneficiaries may qualify for extra help to pay for prescriptions or even the medicare savings program/Medicaid,” said a representative for Texas Medicare Solutions. “Our agents can help them apply for that help or even connect them with someone who can do it for them.”
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