Do Medicare Advantage Plans Have Try-out Periods?
Medicare Advantage plans are another way to receive Medicare benefits. They replace traditional Medicare Part A and B benefits with coverage through a private insurance company that adds on prescription drug coverage, like a Part D plan. Most Advantage plans add coverage beyond Medicare to help with dental services, eyeglasses and hearing aids.
One of the big selling points behind the growth in Medicare Advantage plans’ enrollment is the low premiums. In some areas, plans are available that cost nothing beyond the regular cost of Medicare Part B premiums. Another major attraction is that Medicare Advantage plans accept all health problems except End Stage Renal Disease.
There are some things that you need to understand about these plans to get complete coverage, though. Most plans only cover non-emergency care through their own list of doctors and hospitals. Since Medicare Advantage plans replace Medicare’s coverage, you won’t have any coverage through Medicare either should you need an out-of-network doctor.
It’s rare for health insurance to offer trial periods, but that’s just what you get with dozens of different Medicare Advantage plans. If you change your mind about your plan, you can switch back to Medicare between January 1 and February 14 next year. Not sure? As Medicare specialists, we provide complimentary consultations to compare options from different insurers. We can let you know what Medigap plans are available in your state so you can make an informed decision about which plan will best fit your situation.