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Medicare insurance plans change year-to-year. In previous years, Medicare beneficiaries enrolled in a Medicare Advantage Plan were allowed to join, drop or switch between Medicare Advantage Plans from Jan. 1 through March 31 of each year. In 2011, they will no longer be allowed to do so. However, there are other options available. Therefore, you should still evaluate your plan each Jan. to ensure it continues to meet your needs.

Evaluating Your Plan

Consider Your Costs
If your 2010 plan had a low monthly premium and a high deductible, did you pay more out-of-pocket than you had anticipated? Was your healthcare affordable, or did you have problems meeting your copays or coinsurance amounts? Were you able to afford your medications? If you had a difficult time meeting your healthcare costs in 2010, you may want to compare your plan with other Medicare insurance plans, including other Medicare Advantage Plans. Costs often vary significantly between plans.

Where did most of your healthcare dollars go in 2010? If you spent the most money on your prescriptions, consider looking for a plan with lower drug copays or a plan that provides the specific medicines you need at the lowest cost. If you spent the most money on office visits to specialists, compare plans to find out which one has the least expensive copay. Remember: Many plans have tiered copay systems that charge more for specialists than for primary doctors. Make sure you compare the right amounts. If you were relatively healthy last year, and spent the majority of your healthcare dollars on your monthly premiums, consider whether a higher deductible would translate into lowered costs overall.

Consider Your Access to Care
Did anything change in how you receive your Medicare services? Did your doctor stop taking your plan? Did your specialist retire? Perhaps you received a diagnosis that requires care by a specialist and your plan doesn’t offer enough choices for providers in your area. If your particular Medicare Advantage Plan made it difficult to obtain the Medicare services you needed in 2010, you may want to compare plans to see which plan features the most providers in your area.

Consider Changes Due to Healthcare Reform
The 2010 healthcare reform bill may have affected your Medicare Advantage Plan in several ways. It could have made it an even better fit for you, or you could find that it is no longer your best choice. The new healthcare law expanded the services of many Medicare Advantage Plans. In 2011, you may find that a competing, less-expensive plan that didn’t previously offer the service you needed now offers it. Additionally, your plan may have been one of only a handful that featured an out-of-pocket maximum in 2010. Under the new law, all Medicare Advantage Plans are required to include an out-of-pocket maximum that limits the amount of money you are required to pay for your Medicare services. Even if you are happy with your Medicare Advantage Plan, it is a good idea to compare your plan with the others available in your area to make sure you are still getting the best deal.

Deciding What to Do Next

If Your Medicare Advantage Plan No Longer Meets Your Needs
If you decide your Medicare Advantage Plan no longer meets your needs, you have two options. If it is between Jan. 1 and Feb. 14, you may elect to de-enroll in your Medicare Advantage Plan and switch to an Original Medicare plan. If you decide to de-enroll in your Medicare Advantage Plan, you must enroll in Medicare Part A, Medicare Part B, or both Medicare Part A and B in order to keep your Medicare insurance. If you decide to switch to Original Medicare and your Medicare Advantage Plan included prescription drug coverage, you will have until Feb. 14 to enroll in Medicare Part D. Your new Medicare insurance will take effect on the first day of the month after you turn in your enrollment paperwork. After Feb. 14, you will be required to wait until Oct. to make changes to your plan. Your new plan would then go into effect on Jan. 1 of 2012.

If you decide your Medicare Advantage Plan no longer meets your needs and you do not want to switch to Original Medicare, you will have to wait until the following calendar year to switch your plan. You should compare plans now and be prepared to enroll in a new Medicare Advantage Plan in the fall. Once you have completed the paperwork for the switch, your new Medicare insurance will take effect on Jan. 1 of the following year.

If Your Medicare Advantage Plan Still Meets Your Needs
Medicare beneficiaries who are happy with their current Medicare insurance plan do not have to do anything. You can continue to receive your Medicare services in 2011 in the same manner as you received them in 2010. However, you should keep in mind that plan offerings may change year-to-year. To make sure your Medicare Advantage Plan will continue to meet your needs in the future, you should review your plan and compare it to other Medicare insurance plans every fall. By comparing plans every fall, you can ensure you continue to receive the Medicare services you need at the price that is right for you.