In an instance, a person suffering from sickness, losing weight rapidly due to digestive problems and experiencing constant migrant problems, may contemplate to end his life to avoid extreme pain. The physicians who were associated with the person’s current Medicare Part C (Medicare Advantage Plans) were not able to diagnose the issue and hence, prescribed more drugs that only increased his health issues and woes. Moreover, the plan that he had denied medical tests that may have diagnosed the issue.
The option present
On switching to Medigap (Medicare Supplement) plan, the person was now free to visit any facility or physician accepting Medicare combined with ‘Part D Stand Alone Prescription Drug Plan’. The very best medical facilities were to be selected in the country for his survival. ‘F Supplement plan’ was selected with a carrier allowing him switching between higher and lower cost plan, not requiring to prove insurability.
Can this problem be avoided in the initial stage? Avoiding some mistakes can help the person to seek the right option.
Mistakes to avoid
- With whom is being dealt with: Working with any independent career agent or captive insurance agent? The former is found to be quite confusing as they get classified as independent. Their contract could have terminated and incentives do mean a lot to them. What is required by them to get non-partial? The other mistake is to work with any uncertified agent. They are allowed to market few ‘Medigap’ supplement plans. It will be wise to select a freelance insurance agent who best represents different insurance carriers. They can guide the person to choose the most appropriate plans among the lot.
- Selecting Medicare Part C will require the person to obtain approval of the insurance carrier prior to having procedure test. While comparing plans, ‘Summary of Benefits’ is to be checked. It is to be published by all carriers and they are to be similar and easy to be compared.
- Not checking properly MOOP ‘maximum out-of-pocket’ limit. MOOP is found in Medicare Advantage Plans and most agents are found to glaze over it when helping to select a plan. If catastrophic medical issue takes place like organ transplant, cancer, long stay at skilled nursing facility, the MOOP is likely to be hit. Hence, it needs to be the lowest possible. It is because, anti-rejection and chemotherapy are regarded as out-patient Part B drugs and not prescription Part D drugs. Several plans are found to pay just 80% of Part-B drugs. Being expensive, the person is required to pay the rest 20%. The solution here is to compare a lot and select a plan having lower MOOP.
There are different types of mistakes that are committed when selecting a plan and can be avoided by taking the guidance of a qualified and honest agent