Many people opt to make changes to their Medicare coverage during fall open enrollment. And if you signed up for Medicare Advantage this past fall, or switched to a new Advantage plan, you may be wondering if you made the right call. Here are a few signs that your Medicare Advantage plan isn't really working out so well.
1. You're paying more than expected
The premiums you're responsible for under your Medicare Advantage plan shouldn't come as a surprise, as those were no doubt disclosed to you when you first signed up. But what may be throwing your finances off-course is the out-of-pocket costs you're facing now that you're actually using your Advantage plan. If your costs under your new plan are higher than your costs under your old plan, then it's a sign that your current plan isn't a good fit.
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2. Your plan offers a host of benefits -- but you can't use a lot of them
The great thing about Medicare Advantage plans is that many offer supplemental benefits you won't find with original Medicare. Some Advantage plans, for example, cover services like meal delivery or carpet cleanings.
It's these perks that may have inspired you to choose your current Medicare Advantage plan in the first place. But just because your Advantage plan offers certain supplemental benefits doesn't mean you're automatically entitled to them.
Usually, the way these benefits work is that you need to have a specific medical need that warrants them. So in the case of a meal service, you might need to have diabetes to qualify. And for carpet cleaning, you may need to have lung problems or severe allergies that are well-documented.
If you're paying extra for your Medicare Advantage plan but you're not getting good use out of it, then it may be time to take action. After all, why spend a chunk of your Social Security or retirement income on something that's not offering great value?
3. You're struggling to find providers you like
Medicare Advantage plans, like private insurance, typically limit you to a specific network of providers. But if you're having a hard time finding providers you trust, or whose offices and hours are convenient for you, then that's not a good thing, as it could be impeding your ability to get the care you deserve.
You're not stuck with a Medicare Advantage plan that's not working out
Even though we're clearly well into 2023, you should know that if you're not happy with your Medicare Advantage plan, you have an opportunity to make a change. Medicare Advantage has its own special open enrollment period that runs from the start of the year until the end of March. During this time, you can switch from one Advantage plan to another if you feel that a different plan will be a better fit.
Another option to explore? Dumping Medicare Advantage altogether and signing up for original Medicare.
Doing so could mean having to pay for certain services out of pocket, like dental care and eye exams. But you may find that your total costs come in lower, or that it's easier to gain access to providers that help you take good care of your health.
