Over the past 10 years, the Medicare Advantage Program has experienced exponential growth. According to the Kaiser Family Foundation, more than half of Medicare beneficiaries are now receiving their Medicare benefits through Medicare Advantage, otherwise known as the private-sector version of Medicare.
With this level of popularity for the program, you can imagine there are a lot of insurance companies that want a “piece of that pie”.
Are there a lot of Medicare Advantage Companies?
If you go to Medicare.gov and input a North Atlanta zip code, you will find there are 10 different Medicare Advantage companies. That’s a lot!
Some of these companies you’ll recognize, some you will not. Some are large carriers, some are small. Because there are so many companies involved in the program now, the plans are becoming better for the consumers!
Here are some of the features we are seeing drastic improvement in: Dental Allowance, Over-The-Counter Allowance, Grocery Allowance, Gym Networks, Hearing Aid Allowance, Elderly Assistance, and lower Medical Maximum-Out-Of-Pocket limits.
These features are getting stronger and stronger each year, but it requires analysis of these plans or a check-in with your Medicare insurance broker each year. We would be happy to be that insurance broker for you if you don’t already have one.
Should I Make A Change or Stay With What I Know?
You may have been with one of the large insurance carriers for years, and there is nothing wrong with that, but could that carrier have a better plan? Or if you are willing to try out one of the smaller carriers, it could offer more benefits if you’re willing to forgo name recognition.
Keeping an open mind about all the insurance carriers in the marketplace could put you in a better plan for your needs. It’s never too early to start thinking about your next Medicare insurance plan.
We are not currently in an active enrollment period, but depending on your situation, there might be a plan you can switch to right now. Check with us about your Medicare insurance options or ask for a plan review of your current plan today! Call us at (770) 913-6464 or through our website at www. SeniorSourceMedicare.com.