Five tips for seniors researching MA or Medigap plan options

Health Plan One, a general agent in the online health insurance market, seeks to guide seniors to choose carefully when selecting their Medicare Advantage (MA) or Medicare supplement (Medigap) plan. Seniors will have only one opportunity to make changes to their Medicare plans during the Annual Enrollment Period this November 15 through December 31.

Here are five tips for seniors researching their plan options from the experts at Medicare Solutions:

1. Check your coverage. Although seniors were promised no changes to Medicare in recent legislation, be sure your existing plan was not changed or eliminated. You should be notified by your carrier.
2. Revisit your RX costs. Because prescription drug coverage is not available as part of a Medicare supplement, those who choose a Medigap plan typically also enroll in a Part D Prescription Drug Plan (PDP). MA plans, governed by private carriers, can change their plan's prescription drug formulary outline or change co-payments.
3. Consider your out-of-pocket costs. Though some MA plans cost an additional monthly premium, some with different coverage options are available at zero premium. Review changes in your out-of-pocket costs, including office, hospital and surgery co-pays.
4. Location, location, location. MA plans available to seniors differ based on the state in which they reside. Seniors usually have many health plans to choose from based on their residency. If you spend part of the year in different states, you'll want a Medigap plan or a MA plan with a national network.
5. Most Medigap plans increase rates on dates other than January 1. So review last year's rate change and consider that you may get a similar increase at the same time next year.