Steep Payments for Medicare Supplements

Seniors throughout the country are dealing with the annual open enrollment period for Medicare. It is a confusing time for may and it is a time when seniors have to make a lot of difficult decisions that will affect them for at least the next year – maybe longer.

There are papers, papers and papers and some seniors say that the more they read them, the less they understand what is happening with their coverage. The one thing that many seniors are finding out is that they will have to pay much more for their Medicare Advantage plans.

Medicare Advantage plans are offered by private insurance companies. Many seniors are looking
at an increase of up to 60% or more. Some companies are eliminating part of their coverage, for example, dental coverage. The individuas that had extra benefits have to now try to find other ways to get that coverage.

Many seniors are looking for answers and help. The Health Insurance Commission office in each state as well as Centers for Medicaid and Medicare are getting calls and emails with inquiries of what to do from seniors seeking advice. With all these rate increases and other changes, seniors have no idea who else to talk to.

There are examples of many seniors who are paying a particular amount, for exampled $183 per month for a high-end Medicare Advantage plan that cover prescriptions and allow individuals to see whichever physician they wish to see, as well as usually including eye and denta care. If a couple is married, each person must have their own Medicare and Medicare Advantage plans. This means that a couple paying $183 each is actually paying $366 per month for those extra benefits.

The problem right now is that even before Healthcare Reform details have been ironed out, muchless put in writing, private insurance companies who offer Medicare Advantage plans, are raising their premiums – some to the tune of between 40% to nearly 100% increases.

Individuals are now trying to decide what to do? Should they keep their current Medicare Advantage plan? Should they change companies? Should they go back to Medicare without all the extras?

These are questions that need to be answered, and they should be answered before the end of the open enrollment period on December 31st. To get those answers contact CMS at www.cms.gov or www.medicare.gov. They have comparison charts and information that can help you sort out all the information. In addition, if you type in Medicare Advantage on your search engine of your computer, and you look carefully, you will find sites – independent sites not sponsored by any insurance companies – that have comparison charts and more.

Don’t pay more than necessary for Medicare Supplements than you need to. Do your research NOW and determine what is the best plan for you with the best coverage at the best price.