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Medicare Advantage plan enrollment season is upon us. Medicare advantage plans are health care options that are part of the Medicare program. Medicare Advantage plans are supplemental and privately run providing supplemental insurance coverage for the elderly and the disabled. To join a Medicare Advantage Plan, one must have Medicare Part A and Part B. Extra benefits are offered and one may have to pay a bit extra for the supplemental benefits. Medicare Advantage Plans can include prescription drug coverage that might integrate HMO’s, PPO’s, private fee-for-service plans and Medicare Special Needs Plans. Open enrollment for the Medicare Advantage plans begins this Monday November 15th, 2010. As of the end of this past month, almost 12 million Medicare beneficiaries were enrolled in a Medicare Advantage plan. Customers will have about 45 days to review the potential plan changes and then determine what type of health care coverage and prescription drug plan coverage they would like to include into their Medicare program coverage. The new health care reform law will also significantly affect Medicare Part D plans. Health care changes for seniors and their Medicare Part D benefits will be altered between now and 2020, which is a time span that new federal rules and regulations allot for major changes to take place. Medicare and Medicaid report that prescription drug plan premiums will remain similar to rates beneficiaries are currently paying this year. Legislation, as it relates to the Affordable Care Act, will improve the value of drug coverage people with Medicare receive. With open enrollment season upon us, many beneficiaries should closely scrutinize their plans and review the detailed options to alternative plans. Health care reform is alive and actively changing the options available almost daily. Author: Genny Germano
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