In making your choices regarding your Medicare plan, take these three things into consideration:
- the overall cost of the plan,
- whether it covers doctors and hospitals with which you are comfortable,
- and the quality of the plan.
Rest assured that all Medicare plans have a guaranteed set of benefits, whether traditional or Medicare Advantage. But there are still pitfalls.
If you make a Medicare Advantage choice and you don't realize you've agreed to a limited network of doctors and hospitals, and you suddenly go to a different doctor or hospital, you could wind up with a very big bill that you would have to pay out of pocket.
Changes are not as drastic this year, but all plans have a different mix of costs every year. So, you really have to make the same evaluation every year, in order to figure out what is going to be the best combination of benefits and costs that meet your needs.