If you are considering a Medicare Advantage plan, also known as Medicare Part C, you probably have discovered the labyrinth of information out there. This is because MA plans are not standardized like Medigap plans. Not to worry, we have created a quick guide on deciding on the right plan for you.

Step 1: Decide if You Want an MA Plan

Usually the reason someone chooses an MA plan is budget. These plans are priced to sell, many times they come without an added monthly premium and sometimes may even pay for part of your Medicare Part B premium. MA plans may also offer, at no extra charge: Rx coverage, gym memberships, vision, and dental. While Medicare Advantage plans may receive offer extra benefits you will be in a smaller network than Original Medicare. If you just want prescription coverage only you can get that without getting a MA plan. Also if you want more robust coverage you may want to consider a Medigap plan instead of MA.

Step 2: Ask The Right MA Questions

Without the right tools this can seem impossible! Good thing for you, we have the tools set up for you. First you want to look for the following possible out-of-pocket costs before choosing an MA plan:

  • Does the plan have a yearly deductible?
  • Does the plan have multiple deductibles?
  • What is the plan’s yearly spending limit?
  • If it has a drug plan included, are your current prescriptions part of their formulary?
  • Is your current doctor in the MA plan network?
  • How much is your copay each time you see the doctor?
  • What is your out-of-pocket max?

Step 3: Look at Medicare Advantage Rankings

There’s an easy way to see if your Medicare Advantage plan does or doesn’t cut the mustard: ratings. CMS ranks plans from 1 to 5, with half point intervals. US News and World Reports suggests to only look MA plans with a rating of 4.5 or higher, although that would work in an ideal world, we think there are other factors in play. If you live in a rural area there may not be a lot of options, and you should choose an MA plan that has Rx coverage that works with your prescriptions.

To find out what Medicare Advantage rankings are there are two ways to obtain this:

    1) Go through a trusted Medicare Advantage broker, like those at Senior65.com
    2) Check on the CMS website for a list of rankings.

Step 4: Apply for Medicare Advantage

This is often easier said that done. There isn’t always an easy online application for Medicare Advantage plans. Call your agent and she can help you get an enrollment packet. To learn more about senior health plans, call the number above or contact Senior65.com.