Friday, December 4, 2009

Picking the Correct Medicare Plan is a Challenge

By: Sara Sindelar

A few years ago Medicare plans changed to two option, Advantage and Medicare Part D. Now since the health care reform is taking place more and more changes are occurring in Medicare. These changes are hurting those holders financially as insurance companies try to safe themselves financially.

Along with the new health care reform are coming cuts from insurance companies. “UnitedHealth Group Inc. and WellCare Health Plans Inc are minimizing the number of plans they hold due to government cut backs” (WSJ). All of these people whose plans are being cut will need to find another option soon, December 31. The deadline for the drug plan is January 31st. If the policy holder does not select by these dates then they are placed in Medicare.

Other issues are the rise in premiums and co pays for holders. People are finding there are worse plans that are charging more for less and high co pays. These Advantage plans are really cutting down plans and the benefits included in plans. Many are dropping the gym membership and dental. Not only are the health care plans dropping but the prescription plans are dropping as well. Costs are increasing for many prescriptions putting a financial burden on those already struggling to pay health care costs.

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