This class provided a look at Medicare Advantage plans, with a focus on helping you choose the plan that best suits your healthcare needs. Key aspects such as plan types, networks, costs, and coverage were discussed to empower you in making an informed decision.

Key Takeaways and Next Steps:

Plan Types Matter

Understand the differences between HMO, HMO POS, and PPO plans. An HMO limits you to a smaller network, while a PPO gives you more flexibility, though it may come with higher costs.

Evaluate Your Network

Confirm that your preferred doctors, specialists, hospitals, and pharmacies are part of your chosen plan’s network to avoid unexpected costs.

Look Beyond $0 Premiums

Even if a plan offers no monthly premium, review potential out-of-pocket costs, such as co-pays for hospital stays or specialist visits.

Review Prescription Coverage

Make sure your prescriptions are covered at the lowest possible tier to minimize costs. Remember, drug coverage varies by plan.

Keep an Eye on Enrollment Periods

Medicare’s Annual Enrollment Period (Oct. 15 – Dec. 7) is the time to switch or review your plan. Make sure your plan still fits your needs, and use the Medicare Advantage Open Enrollment Period (Jan. 1 – Mar. 31) for changes if needed.