Chat with us, powered by LiveChat
(855) 740-2227

Medicare Advantage Plan Benefits Change Yearly

Many Illinois seniors do not realize that coverage and benefits change yearly with Part C plans, or fail to review the Annual Notice of Change before Annual Enrollment.

Review Coverage

As a member of Part C, each fall, you should receive an Annual Notice of Change. This document includes information about changes to your plan that will take effect the following January. Changes to your premium, deductibles, copayments, prescription, and network providers. Your maximum out-of-pocket limit may be reduced. This is your opportunity to review your coverage and decide if your plan still meets your needs.

Benefit Changes

Small changes can have a significant impact on your coverage and benefits, how much you pay out-of-pocket, and where you can go to receive services. Review network changes that may affect the doctors and hospitals you use. Your plan’s medication formulary may cover fewer medications next year. It’s a good idea to review the list carefully to ensure the medications are on the list and still available, and the pharmacy you use. Look for changes in how much you will need to pay to continue receiving the prescriptions you use regularly. It’s also important to review network changes that may affect the doctors and hospitals you use for your medical care.

Different Plans

There are many different Part C plans, some with prescription benefits included, and some without. HMOs and PPOs are not required to offer prescription benefits. If you choose this type of plan that does not offer coverage, you may not join a separate Part D plan. Plans must send an Annual Notice of Change no later than September 30, a couple of weeks before the start of Open Enrollment. If you don’t receive it, contact your plan administrator or agent. Details on how to request the notice can be found on the back of your membership card. If you decide to keep your plan, you don’t need to do anything at all and you will automatically be re-enrolled in your plan for another year.

Options

Most plans do include benefits for prescription drugs, but no two plans are alike. It makes sense to find the one that fits your prescription needs best. If you take specific medications, compare plans by looking at the drugs that are included on the formulary, and be sure to identify which tier or tiers they are assigned to, how much they cost, and what pharmacies are in the network.

 

 

Get a Quote

 

 

 

 

 

 

References:

Annual Notice of Change: https://www.medicare.gov/forms-help-and-resources/mail-about-medicare/plan-annual-notice-of-change.html

MUC47-2017-BCBS

Testimonial Suzon was very pleased with Lilly being professional, knowledgeable and great at what she does. S. Lanz, Woodridge
Testimonial Debbie was so polite. She didn’t make me feel incompetent when I didn’t understand something. S. Scheibly, Decatur
Testimonial Kathleen was helpful and provided me with information quickly! M. Greaney, Oak Lawn
Testimonial Brittany was extremely knowledgeable and friendly, couldn’t have been happier! I have already recommended her to a friend Catherine B.
Testimonial Jenna made Medicare seem worthwhile. I had an issue with my plan and Jenna was informative and delightfully helpful. My wife will be ready to convert to Medicare in July and Jenna will guide her to her plan. Thank you. Kevin I.
Testimonial Best service, follow through and options offered. High recommend! Angela B.

Latest News

Read all the news

Avoid Medicare Part D Penalty

Whether or not you take prescription drugs, you may want to consider your options carefully when it comes to joining…
Read more

Medicare Part D Creditable Coverage

As a Medicare-eligible policyholder, you have the right to know whether or not your current drug coverage meets the standard…
Read more

Medicare Advantage Coverage and Enrollment Periods

Medicare Advantage is a cost-saving option for many seniors to cover out-of-pocket expenses associated with Medicare. These plans include many…
Read more

Medicare Supplement Plan G Coverage Details

Most seniors in Illinois choose Medicare Supplement Plan G, due to the low out-of-pocket costs, and coverage for foreign travel….
Read more

Medicare Part D Prescripton Plans

Medicare does not provide coverage for medications. There are two ways to receive prescription coverage, enroll in a Part D…
Read more