Overwhelmed by Medicare Advantage and Drug plans?
By Edward Marion

"I am being bombarded by offers to sign up for Medicare Advantage and Drug plans, and each company claims their plan is the best. What happens if I make the wrong choice, and are there pitfalls to watch for?"

This can be an overwhelming decision and choosing the right plan can be difficult, especially when they all seem to be so enticing. This problem is multiplied by the fact that the application dated the closest to the end of the year is the one that will remain in force. Unfortunately, some of the agents out there are not as honest as they should be, and they can hold your application until the last day of December, which allows them to win by default. Be careful about what you sign and make sure you date the application.

During the months of January- March, Medicare allows you to change plans one more time. So, you can always revert back to the plan that you wish you had kept. The only condition for switching plans during this period is you must change to a plan of the same type.

There are two types, the kind with a drug plan attached, and the kind that has a drug plan separate from the health plan. So if you sign up for a plan that has health and drugs combined; then your onetime change must also have health and drugs combined.

Remember something too good to be true, probably is. Also this a one- year commitment only, which works both ways, and the Medicare provider can opt to not renew you next year if you cost them too much money! Call your doctor before signing to make sure he or she accepts the plan and note the "out of pocket maximum cost" for the plan you are evualting.