If you are a current Medicare Advantage subscriber and in case you have not made any changes to your existing health plan then you are actually running the risk of not being eligible for a future decrease in premiums. This is especially true if you have not opted out of the Medicare Advantage program. But there is an easy method to be certain that you will have the ability to get around these ever-increasing cost increases and continue to enjoy the same level of coverage. Well, that is not as straightforward as it sounds. It is not something that can be done simply by looking on the internet and only filling out a request form.
You’ll need to be aware of the law and best practices so you can tell if you’re qualified for a much better deal. But that isn’t enough, because just understanding that there’s a difference between government insurance programs and private medical insurance will be insufficient if you don’t know how to make a request. That’s where lots of people get stumped. When you apply for Medicare, you will receive a form in the mail that has special concerns for each one of these situations. But if you are still unfamiliar with them, you will end up having to fill out a form each time you change your health insurance plan.
Each year, the federal law requires Medicare Advantage carriers to submit updated premiums. This means that they must compare your plan with others that are competing for your business. The new rates will be based on the rates you pay now. This isn’t necessarily a bad thing. Many carriers are required to go to this length because they are required to adhere to the law. However, as a member of an insurer that pays the premiums, you should make sure that you are submitting updated premiums.
The first thing you should do is your broker and make a list of each the services you currently use. Take their phone numbers and enter them into the form. After this, you should take the following information in the form and run it through a calculator to find out your yearly premium rate. This should only take a few minutes. The information that you will need to provide include the provider titles, the amount of coverage, the length of the policy, the expense of the premiums, and the rate for each of those services. Some of this information will be provided automatically and some will require you to input more information. Be certain that you go through all of the fields and be sure that the information is correct. Otherwise, your program could be declined and you won’t qualify for Medicare Advantage benefits.
Even if you go through all of the proper steps to get the application approved, you may still not have the ability to have a new plan if there is an exception. For example, if you have had a health condition or accident since your last quote, then you will be ineligible for Medicare Advantage. But this is the worst case scenario. If your premiums are low and you have little history of illness, then you are still in the running. Maintain your premiums low and you’ll remain covered and eligible for Medicare Advantage. he key to finding the best deals is good customer service. So if you’re having troubles finding a new provider, contact your agent or insurer right away so that you can file your request immediately.