FAQ's You Should Ask

By Elie Harriett

Trying to find out if the insurance being presented is for you?  Most people are so overwhelmed with information and choices that they can easily forget to ask some important questions about the coverage they are considering.  Here is a brief list of some questions you should find the answer to before making any choices.

• How do the premiums change over time? Usually they go up.  But not always.  Medicare Advantage sometimes has no additional premium beyond Medicare Part B’s cost.  But what happens next year?  If you have a supplement, your price will go up.  When was the last increase?  And when can you expect to see your next one?  Don’t let anyone tell you the price is guaranteed for life.  Health insurance will change its price on an incremental basis.
• Are there waiting periods? The answer to this varies by state and type of plan you select.  In Ohio, a person not in a guaranteed issue period MIGHT have a waiting period on preexisting conditions.  Some Ohio supplements have them under certain circumstances.  Others do not.  Medicare Advantage has none.
•  How do the benefits change over time? This is probably the most important yet consistently unasked question about health insurance.  If you have a Supplement, your benefits are usually guaranteed for your life.  Medicare Advantage plans typically do not guarantee benefits longer than a calendar year.
• If I get sick and my doctor wants to send me to a new specialist, will I be able to use him/her? If you have a supplement, the answer is probably yes, although talk with the plan’s representative to confirm that.  With Medicare Advantage, the answer is a little more complicated.  Depending on the type of plan, and that doctor’s affiliations, you might be able to.  Again, this is a great question to ask someone knowledgeable about.
•  Who do I call if I have questions or problems? Are you OK calling an 800 number and speaking with a customer service representative?  Do you want something a little more personal?  Can you call the person that enrolled you in the plan or do they encourage you to contact a  customer service specialist?  Some people care a great deal about who they can call with questions or problems.  If you are one of those people, make sure you ask who you have to help you when a problem arises.

These are just a few quick and easy questions you should consider asking when choosing a medical plan.  As always, make sure you are comfortable with your decision before purchasing, and we encourage you to seek out a knowledgeable insurance advisor so you can be sure these questions can be answered specific to your situation.