Mistakes that many people make during Medicare advantage open enrolment period


Medicare advantage plans 2022 enrolment period comes up every year. This is the best chance for you to be enrolled in the type of Medicare that you want. The open enrolment period is also a perfect time for all those who need to make some changes to their current plan. If you choose a certain type of Medicare advantage plan the previous year, you are allowed to choose a Medicare Advantage plan that can suit your needs the following year. Medicare Advantage is being offered by private companies that are authorized and accepted by Medicare. During the open enrollment period, all those private companies will want to win people over. That is why towards the enrolment period, you will most likely be bombarded with promotions and advertisements. During the open enrollment period, there are some serious mistakes that people make when signing up. Here are some of the mistakes that people make

Not signing up for prescription drug coverage

One common mistake that many people make is not signing up for prescription drug coverage. Even if you do not take drugs that often, we do not know what the future holds. Many people also think that they cannot pay monthly premiums for something that they don’t need. This might cost you a lot especially when you wish to sign up later in life. When you fail to sign up for prescription drugs, you might end up paying for high penalties when you finally decide to sign up. If you already have credible prescription coverage from an employer or from somewhere else, you can wait for signing up without incurring any possible penalties.

Not reading your annual plan notice change

At the end of the year, your Medicare advantage plans 2022 always sends annual notice change. This notice is very important because it outlines the possible changes that should be coming your way regardless of the coverage and the costs as well. The deductibles, coinsurance, premiums, and copayments do not come that cheap. Price hikes sometimes could surprise you when the new plan finally picks up. Looking for a service that you can use or a service that you use regularly can cost you even more. To avoid spending more on out-of-pocket you must read the annual plan notice.

Signing up for the same plan as your spouse or friend

Many people sign up for Medicare advantage plans based on other people’s recommendations. You can seek recommendations from friends, colleagues, or even neighbors. One thing that you should know about the Medicare supplement plan is that what suits your friend might not be what you need. This is because your health is and will always be unique. You should also know that no one shared your medical history. Instead of following people’s advice, you must do research, compare the Medicare advantage plans, and make a selection that will suit your healthcare needs.