• Can only switch during Open Enrollment. If you choose a plan during AEP (Oct 15 – Nov 7), you have to wait til Jan 1st to change it. The Open Enrollment Period (OEP) is Jan 1 – Mar 31 each year.
• Plans are difficult to compare since no two MA plans are alike. This is the opposite of the MedSupp plans’s standardization.
• Usually no nationwide coverage, so not so great if you travel a lot or spend a lot of time in another state.
These are mostly HMO plans that require referrals to see specialist.
• Plan can change drug and medical coverage each year.
If money is not as much of an issue for you, or you prefer consistent and predictable healthcare costs, a MedSupp might be better. Also, if you are a snowbird or something similar, where you have two houses in different states, you might prefer a MedSupp.
As with anything in Medicare, it’s best to have a broker you trust. We recommend you find one, like those at PandaCare, and get their help!