As individuals age, their reliance on the healthcare system is likely to increase, which can lead to the costs of private health insurance quickly becoming unaffordable. As a result, individuals will often utilize Medicare in order to help them meet their health needs. Unfortunately, there are many things that are not covered under standard Medicare benefits, but individuals can invest in Medicare Advantage plans in order to improve the coverage that they enjoy.

Myth: There Is No Need To Shop Around For A Medicare Advantage Plan Each Year

One assumption that people may have about their Medicare Advantage coverage is that it does not change. As a result, they may fail to shop around and compare the available policies when they are renewing or buying a new plan. In order to make sure that you are getting the best Medicare Advantage coverage for your money, you should thoroughly compare the various policies that are available in your area. These policies can vary in the types of benefits that they provide along with the policy caps and premiums.

Myth: There Are No Exceptions To Yearly Enrollment Restrictions

In order for a person to enroll in Medicare, they will have to start this process during one of the two yearly enrollment periods. This will apply to both basic Medicare benefits as well as Medicare Advantage programs. However, individuals should note that there can be exceptions to these yearly limits. One of the most prominent is individuals moving to a new state. When crossing state lines, the Medicare coverage will often no longer be valid, and a person will have to start the enrollment process again. If you are anticipating moving across state lines, you will want to thoroughly review the rules for applying for Medicare benefits in the destination state so that you can minimize disruptions to your health coverage.

Myth: Medicare Advantage Will Completely Supplant Your Medicare Benefits

When comparing Medicare Advantage plans, individuals should avoid assuming that the goal of these policies is to completely supplant the coverage that is offered by the basic Medicare benefits. In reality, Medicare Advantage programs are designed to cover the types of costs that Medicare will usually not cover. One of the most important costs is prescription medications, as the price of these drugs will not be covered by Medicare. Due to the fact that individuals can have different health needs, it is important to consider the particular ways that you intend to use your Medicare benefits so that you can make more informed choices when comparing the various Medicare Advantage plans that you may be considering buying.