Use the Open Enrollment Period to Switch from Medigap

The open sign up period for Medicare Advantage plans and prescription drug plans is from November 15 to December 3. You can find hundreds of different types of these plans across the country, with various coinsurance, deductibles and premiums. So rather than procrastinate, do yourself a favor do by shopping early.

As of 2011, traditional period from January 1st to March 31st to make additional changes once you sign up ceased to exist. It is all the more important to compare all options thoroughly.

Approximately 11.8 million Medicare participants were already registered in the Advantage care plans on September 30. That’s almost a quarter of all Medicare patients.

How do Medicare Advantage plans work?

These plans are from private insurance companies that insure seniors and certain people with disabilities. These plans are subsidized by the government and the plans usually compete with extras that are not available in Original Medicare, such as: hearing, dental or eyesight cover. The provision of subsidies has made premiums to be less than the Medicare premiums for standard Part B, however, of late, subsidies have been closely examined.

The federal government has frozen subsidies for performance evaluations. Some Advantage coverage plans can earn bonuses, but underperforming plans are associated with a subsidy loss, which can lead to higher premiums.

Most of these plans include prescription drug coverage similar to Medicare Part D. Benefit coverage plans are also typically managed care plans, such as preferred provider organization (PPO) or a health maintenance organization (HMO) plans. You will usually need to select a family doctor and see that doctor for a referral before you can visit a specialist.

Your access to doctors, hospitals or other medical service providers may also be limited to the provider network of the plan. Some insurers have Private Fee for Service plans that allow you to see a doctor or use a Medicare-approved hospital. Such plans may incur fees for visits to a doctor, but you are not required to select a family doctor or receive a referral to see a specialist.

All of these plans include all of your Medicare Part A and Part B coverage, including emergency and emergency care. Plans do not cover hospice care, as Original Medicare will grant the coverage even if you sign up for one of the Advantage coverage plans.

How do I join one of the Medicare Supplement plans-go to

Generally, if you have Medicare Part A and Part B and you live in an area where there is an Advantage Plan that accepts new members, you can join an Advantage Plan.

If you switch to another Advantage coverage plan, you only need to join the new plan and you will automatically be excluded from your old plan. You have no short commings in your coverage.

As long as you are enrolled in an Advantage Plan, you do not need to purchase Medicare Supplement insurance. The fact is that it is illegal for anyone to sell to you one of the ten Medigap plans if you are in an Advantage plan.

The benefits offered by the Medigap policies are covered by Advantage plans, and the additional Medicare insurance does not pay for your Advantage plan co-insurance, co-pay, or deductible.