The window for 2019 medical insurance enrollment is currently open. Some things to consider before you enroll in any plan.
Is your 2019 Medical Insurance Plan Accepted?
If you have preferred providers and hospitals, check with them to see what plans they are accepting in 2019. This might have changed from last year. If you are currently being treated, this is a critical consideration in choosing your plan.
your deductible and premium responsibility
Know before you enroll what your monthly premium will be, the deductible amount, and if possible, what charges are used to determine the deductible.
Also check the co-pay amounts for visits to the doctor or therapists. There could be different amounts for specialists.
Some plans will have in network and out of network benefits considerations. Some don’t. If you enroll in a plan without an out of network component, you might be paying the entire medical bill for services provided outside the plan, which can be quite hefty.
2019 Medical Insurance Plan considerations
If you have several plans from which to choose, you might want to determine if you are willing to pay a slightly higher monthly premium. The plan will then probably pay a higher percentage of the charges: a 90/10 plan versus an 80/20 or 70/30 plan. (The plan pays the 90%, you are responsible for the 10%.)
medicare 2019 enrollment
I highly recommend that you review your Part D drug plan each year. The prices change, the providers change and you want to be paying the best rates for your medications. I recommend you also check the star ratings of your plan and do a comparison of local pharmacy and the estimated total cost to you for the year.
If you are enrolling for the first time: make sure that you carefully review the options: Part A and B with a supplemental plan or a Medicare Advantage plan (Part C). Medicare.gov provides an enormous amount of information to assist you with the process. And, you can enroll online if you choose. Or, seek assistance at a local Social Security office.
do your homework
Before you enroll in any plan this year, know as much as possible about what is covered and your financial responsibility. Once you receive your Statement of Benefits confirming that you are enrolled in a particular plan, create an online account with your provider so that you can monitor your insurance activity, have access to any forms which you might need, and other related information for your account.
Medical insurance is confusing and complicated and you are financially the responsible party. Ask questions, review the information provided to you, seek help for what you don’t understand. Contact me with any questions you have about the process or to assist with the actual enrollment. You only have this opportunity once a year and can’t change until next year unless there is a life changing event.