Medicare Advantage/HMO plan benefits/co-pays can change from year to year. In addition, the same is true for the PPO plans under the Medicare Advantage which can also change their premium, if they have a premium.
Make sure to check out what those changes are (including the prescription drug coverage) to make sure that the plan you will be on for 2016 will fit your specific needs.
In addition, sometimes physicians/physician groups can pull away from one contracting medical group to join a different one for the upcoming year. Don’t be caught off guard. Confirm that your doctors are either still on the same medical group for 2016, or if they are not, what is the name of the medical group and will that new medical group take your current Medicare Advantage plan …. or do you need to change HMO carriers for 2016?
Lastly, the parameters of a Medicare prescription drug benefit are changed each year by Medicare. Whether you are on a stand-alone drug plan or have the drug benefit included in your Medicare Advantage/HMO plan, the insurance companies can change the drug formulary (listing of drugs covered by the plan, showing the tier and cost of the drug for the upcoming year) from year to year. Not all prescription drugs covered by your current plan this year will necessarily continue to be covered by the plan at the same tier or at the same cost for next year.
It is important to review your current plan for these changes to see how those change may or may not affect you for 2016.
If individuals are happy with your current plan’s changes, they don’t have to do anything and they will automatically be renewed. If not, Medicare Annual Enrollment (AEP) is from 10/15/2015 thru 12/7/2015 when changes in coverage for 2016 can