If you’re approaching the age of 65, navigating another qualifying event or reviewing plan options ahead of the Medicare Advantage Open Enrollment period (which runs from January 1 to March 31 annually), there are a number of details to consider when comparing Medicare Advantage plan options. To make that process easier, we created the downloadable checklist below.
Your Medicare Advantage Plan Shopping Checklist
1. Visit Medicare.gov
Read the expert explainers on the parts of Medicare, how it works and what it costs.
2. Use Medicare.gov’s Plan Comparison Tool
See how many plans are available to you based on your location.
3. Search by Hospital
Enter your preferred hospital network information to further narrow your list of plan options.
4. Search by Physician(s)
Enter your preferred physician information to refine your list of plan options again.
5. Search by Prescription Drug(s)
Enter the prescription drug(s)—and doses—you currently take to see which drug formularies will give you the most cost-effective coverage of your medications.
6. Consider Your Expected Utilization
Think you’ll use your benefits often? Prioritize plans with lower out-of-pocket maximums and higher monthly premiums. Otherwise, focus on plans with high out-of-pocket maximums, low copays and high deductibles.
7. Browse Additional Coverage
Compare your final plan options based on other included health care benefits, such as dental, vision, hearing, over-the-counter or transportation coverage, to identify the best plan for you.
HealthCompare Insurance Services does not offer every plan available in your area. Currently it represents 18 organizations, which offers 52,101 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
HealthCompare Insurance Services represents Medicare Advantage HMO, PPO, and PFFS organizations and stand-alone PDP prescription drug plans that are contracted with Medicare. Enrollment depends on the plan’s contract renewal.