By SYLVIA GORDON
Guest Columnist
The quick answer is because there is a lot of competition and the plans change each year. Unlike a traditional Medicare Supplement Plan G, in which the benefits never change, a MAPD is only filed and approved with the government for one year. It must be refiled and approved each year. Prices and benefits change every January. Some plans leave the market entirely and new plans come into Indiana. This makes for a lot of choices and a small window for seniors to make their plan decisions.
If you don’t like change, Medicare Advantage PPO and HMO plans are not for you. Take for example Advantage Health Solutions. Previously owned by the St. Francis and St. Vincent Hospitals, this plan was very popular for many years in Central Indiana. Unexpectedly, they exited the market and thousands of seniors had to choose a new plan in a short period of time. While plan exits are not common, especially with large, national insurance companies, plan exits are a feature that Medicare Supplement members do not have to contend with.
Medicare Supplement plans are guaranteed renewable and your benefits cannot change. As long as you keep paying your monthly premium, they cannot cancel you – no matter how sick you are or how high your claims are.
Advantage plans are priced at the county level, but do not charge you more for smoking, weight or health issues that a Medicare Supplement may be able to up charge you for.
Price is generally the deciding factor when you determine whether to enroll in a Medicare Supplement or Advantage plan. Since many Advantage plans offer a $0 per month option, the popularity of these plans has steadily grown and pulled seniors away from more expensive Medicare Supplement plans. But it takes some work to navigate networks and copays on Advantage plans.
I’m not advocating that one type of plan is better than the other. They both offer many benefits and the key is to find the plan that best suits your health, budget and lifestyle. When clients push me to choose which type of plan is “best” I point to my own parents. One has a Medicare Supplement Plan G and the other a Medicare Advantage PPO – and both feel they have the best plan!
Sylvia Gordon is the president of Gordon Marketing, headquartered in Noblesville, where she trains on Medicare and Social Security in all 50 states. You can contact her at sgordon@gordonmarketing.com.