Warning to Medicare Advantage Plan Buyers
On Monday, the New York Times ran a great story about Medicare Advantage Plans.. Medicare Advantage Plans are a type of health plan sold by private insurance companies. The plans are associated with Medicare. It seems that seniors across the country have been fooled into signing away their Medicare benefits by enrolling in a Medicare Advantage Plan. There were cases that the seniors did not have an idea how the Medicare Advantage Plans worked, and in others, they didn’t even know that the insurance agents had signed them up for the plan.
Most of the insurance companies that sell these long term care plans have been accused of several bad practices, including:
Deceptive marketing strategies that don’t make a clear distinction between Medicare and Medicare Advantage Targeting of uninformed seniors in low-income areas by pushy agents with hard-sell techniques Outsourcing customer service to overseas call centers, whose employees have substandard knowledge of the complex Medicare system. Certain insurance agencies with Medicare Advantage Plans usuallu undergo a greater amount of scrutiny than they have in the past, and it seems to be effective and helping them a little. Kerry N. Weems, the acting administrator of the Centers for Medicare and Medicaid Services, says, ” There are substantially fewer violations, and those violations are of substantially lower severity than in previous marketing periods. “
Medicare Advantage programs can help some of the customers to finance their long term care, however, some of these plans are not for everyone. There are some important factors that need to be considered before signing up for any type of Medicare Advantage Plan. Here are a few of the most essential issues:
Make sure your doctor(s) and local hospital are within the insurance company’s network of providers. Medigap policies become null and void once you are enrolled in a Medicare Advantage Plan. If you already have a Medigap policy, you will need to cancel it once the coverage begins with a Medicare Advantage Plan to avoid paying twice.
Remember that Medicare Advantage plans vary greatly. You are giving up all rights to your existing Medicare policy, so remember to pick a plan that will meet your future continuous care needs as well as your current ones. Keep in mind to read the fine print. This is an important decision, so don’t be in a hurry! We live in a society where the buyer must beware. Call your parents tonight! Make sure that they know about the issues surrounding Medicare Advantage Plans. That phone call could be the one thing that saves them from making;or worse yet, being pushed into;a decision that isn;t right for them. You don;t even want to think about the alternative!
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Published by: admin on July 17th, 2009 | Filed under Uncategorized
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