Medicare Advantage Plans for 2011

Every year around this time something happens that lets you know it's that time of the year again. It's not the cooler weather or the leaves changing color. It's not the Halloween costumes and candy decorating the aisles of your local Wal-mart. Alas, it's the bombardment of mail, television commercials, and phone calls all promising a better Medicare Advantage insurance plan! Why is this?

This happens because of a phenomenon known in the industry as AEP or Annual Enrollment Period. This period had for a long time been from November 15 to December 31 of each year. Well as usual Congress couldn't leave well enough or NOT well enough alone, and that period will actually be from October 15 until Dec. 7 in 2011 and going forward.

The temptation here is to say things like: If it ain't broke, don't fix it, or leave well enough alone...wait, didn't I just say that? Anyway, I digress. You really shouldn't ignore this enrollment period because the Medicare Advantage plans take this opportunity to change their benefits and overall level of coverage. Typically, this is not for the best. If you are currently enrolled into a Medicare Advantage plan, you should review their Annual Notice of Change which tells you what co-pays/premiums are increasing, and what benefits are being dropped.

The competition in this industry is so fierce, however; that what normally happens is one of the companies decides they want more clients. In order to do this they actually increase their coverage and sometimes even lower their co-pays/premiums. This is why you want to take the time to review the different plans offered in your area in order to decide if a different company would make sense for you! Keep in mind though that each plan has it's own network, and you will need to confirm if your doctor is in their network.