Seniors Urged To Compare All Medicare Insurance Options Before Deciding

When it comes to Medicare insurance options, seniors have more choices than ever. More options are resulting in more confusion and an increase in mistaken choices. An educational effort has been launched to help educate seniors who are eligible for Medicare.

"The typical senior has 100 or more different options to choose from," explains Jesse Slome, director of the American Association for Medicare Supplement Insurance. "While Medicare is a national program, your choices are going to be based on specifically where you live because Medicare plans are local."

According to the latest data from the Association, in some states as many as 100 different Medicare Advantage plans are available. "Medicare Advantage plans are the ones you typically see advertised by celebrity spokespeople on television," Slome shares. "The offer of no-cost extra benefits and the possibility of zero premium plan options is definitely attracting more buyers."

"But no premium doesn't necessarily mean no cost," Slome emphasizes. "Medicare Advantage is just one option and sometimes it isn't the best one."

Slome pointed to recent report issued by the U.S. Senate Committee on Finance. The report cites that the number of complaints about private sector marketing for Medicare Advantage (MA) plans more than doubled from 2020 to 2021.

The Center for Medicare and Medicaid Services (CMS) reported it received more than twice as many complaints in 2021 compared to 2020. CMS reported 39,617 complains in 2021 compared to 15,497 in 2020.

"While Medicare allows individuals to change from one plan to another, that isn't always true," Slome points out. "For example, if you select an MA plan and later wish to switch to a Medicare Supplement policy, you may have to meet health requirements and that's not always possible."

The Medicare insurance expert recommends that seniors explore all options before making a decision. "You may think you are speaking directly with an insurance company but it's almost assured that you are speaking with an insurance agent," Slome notes. "Asking the following two questions can help you ascertain if they are really working for you."

Slome suggests asking whether the individual will help you compare both Medicare Advantage as well as Medicare Supplement plan options. "There are pros and cons to each but you want to know that before enrolling," Slome advises. "Second, ask how many insurance companies the individual is appointed with."

Finally, Slome suggests speaking with at least one local Medicare insurance agent. "Medicare plan options are local and an agent in your area should have the best knowledge of what's available," Slome adds.

Seniors can find independent local Medicare insurance agents by accessing the free online directory hosted by the American Association for Medicare Supplement Insurance. The nation's leading resource can be accessed at https://www.medicaresupp.org/find-local-agent/. Access is free and no personal information is entered to see local agents listed by Zip Code.

Contact: Jesse Slome
AAMSI
32504 Carrie Place
Westlake Village, CA
https://www.medicaresupp.org

The American Association for Medicare Supplement Insurance advocates for the importance of consumer awareness and supports insurance and financial professionals who market Medicare insurance solutions. Access the latest Medicare insurance information at https://www.medicaresupp.org/information/.