Wednesday, December 11th
2024 Medicare Advantage Plan Reviews
Blue Cross Blue Shield
- Quoted prices $0 to $202 monthly premium
- $45 to $47/month in prescriptions
- Online quotes available
- Only sells its own insurance
- Detailed blogs and resources online
- "A+” rating from the BBB in some states
Blue Cross Blue Shield, or BCBS, has a long history in the insurance field. Also known as "Anthem” in some states, BCBS is one of the most well-known insurance providers on the market. The BCBS Medicare Advantage Plans (also known as Part C) are easy to access with tons of details about the plans. You can easily check if your state is covered by entering your zip code.
Great site for first-time Medicare buyers
One of the standout features of the BCBS website is the impressive amount of information available. The part of the site dedicated to Medicare Advantage Plans is extensive. You'll find details about costs, limits, and considerations, when to enroll, and more. So, if this is your first time picking out a Medicare Advantage Plan, BCBS is a great place to get familiar with the Medicare process. To get to the part where you initiate a quote, head to the right side of the page where it prompts you to "Enter Zip Code and Find Coverage."
Tons of details on online quote page
Once you're redirected to the coverage page for your state (for us, that was the Illinois Medicare page), you'll be asked to provide your ideal "effective date” and your zip code to see some quotes. The area for our fictional "sample” customer was in Illinois. BCBS offered 12 different plans to sift through with a mix of options including prescriptions, medical only, or some with both. You can see a variety of details right there on the page including copay information, out-of-pocket maximums, monthly premiums, and whether a plan includes dental and vision.
Online signup is a bonus
BCBS will allow you to initiate your Medicare Advantage Plan application online, which sets them apart from other providers who require a (sometimes lengthy) phone call. BCBS offers a range of plans as soon as you submit your zip code. The monthly premiums at BCBS ranged from $0 to $202. However, the details regarding prescription costs required us to click through and review all of the details, which were more complex than at other companies. BCBS rates prescriptions on a tiered system. According to our research, our example customer's prescription (Xarelto) is usually a "Tier 3” drug. At BCBS this would make the cost for Xarelto between $45 to $47 for your copay. This is a highly competitive rate for prescription copays, giving BCBS an advantage in our review.
Amazing extras help with Medicare learning curve
Our favorite feature of BCBS were the blogs and extra details that help you fully understand the Medicare process. With blogs that answer questions like "What is a health insurance claim?” or "How does telehealth work?” BCBS offers accessible information whether you've looked at Medicare before or if this is your first time figuring it out.
BBB ratings vary by state
Finding a Better Business Bureau (BBB) listing for BCBS can be tricky due to separate offices in each state. What we did gather shows that the BBB ratings for BCBS vary significantly. For instance, South Carolina enjoys an "A+” rating with seven customer complaints, whereas New York holds a "D-”, and the BBB score for Illinois (where our example customer is from) is a mid-tier "B-” rating. So, before you go with BCBS, you might want to check out the company's rating in your particular state since the company's reputation varies so much.
Still competitive despite mixed experiences
BCBS has some standout prices. For this reason, BCBS is one of the favorites in our review overall. However, one feature keeps BCBS from the top three: the differing BBB scores. While BCBS may be the #1 pick for customers in some states (like South Carolina), for customers in the lower-rated states, the experience may not be the same. For this reason, BCBS falls a little in the ratings. On the other hand, the benefits like online enrollment, online quotes, and the highly competitive copay prices make BCBS a great option to look into, especially if your state is lucky enough to have an "A+” rating. For this reason, it gets a higher-than-average.
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If you or a family member is approaching the age of 65, or if you are soon eligible for Medicare Parts A and B, now is the perfect time to start looking at coverage to go along with your Medicare. While standard Medicare covers many of your medical expenses, it may be somewhat expensive. So looking into another option, Medicare Advantage Plans, might be in your best interest.
Medicare Advantage, also known as Medicare Part C, is an alternative to traditional Medicare offered by private insurance companies approved by Medicare. These plans provide all the coverage of Medicare Part A (hospital insurance) and Part B (medical insurance) and often include additional benefits, such as vision, dental, and prescription drug coverage. Some plans even offer health and wellness programs to encourage preventive care like fitness, chiropractic, and physical therapy.
Medicare Advantage Plan FAQ
Continued from above...
One way to think of a Medicare Advantage Plan is like an all-inclusive resort stay. While you need to stick with a particular hotel (or, in this case, medical network), everything is handled for you from basic meals to entertainment (or prescriptions and medical specialists). Much like an all-inclusive resort experience, Medicare Advantage consolidates various features of Medicare, so your prescription drug coverage and services like dental, vision, and hearing are all taken care of in one place. These elements would typically require piecing together separate standalone plans which can be complicated and frustrating. Instead, you can get everything you need at once.
Premiums for Medicare Advantage plans change based on the provider and the specific plan. While you might find policies with $0 monthly payments, they can come with increased out-of-pocket expenses, such as office visit copays and annual deductibles. However, basics like primary care and prescriptions are often partially (if not completely) covered. On the other hand, if you're looking to see a specialist, you might prefer a plan with a higher premium to cover the cost of those visits.
When it comes to signing up for a Medicare Advantage Plan, there are two ways to find what you need: approaching an insurance company directly or collaborating with a broker. Choosing an insurer you already know and trust, potentially one that has been your healthcare provider before, might be the best way to go if you're looking for peace of mind and security. Typically, you can rely on getting the lowest possible premium quotes from that particular company. However, going through a broker or referral service can help you compare policies from different insurers at a glance. In this case, you might find better coverage from a competitor, and you can trust the broker to work on your behalf.
Regardless of the path you choose, you'll want to familiarize yourself with the different Medicare Advantage Plans, their benefits, and average premium costs for your demographic (age, gender, location). This helps you avoid feeling pressured to commit to a policy that may not align with your needs. Keep in mind that to apply for any Medicare Advantage Plan, you'll need your Medicare number, so make sure you complete the necessary steps to enroll in Medicare (A and B) before selecting your Advantage coverage.
If all of this sounds like a lot, don't worry. We've got your back. To simplify the process of finding Medicare Advantage Plans that are worth your time, we've put together a few criteria that might help you sort it all out:
- Cost. When it comes to the cost of Medicare Advantage Plans, your health and your pre-existing conditions or your prescriptions may change the costs depending on which company you choose. While many options offer a $0 premium, you'll want to be sure that the premium includes all the benefits you're looking for. So, keep an eye on the deals and benefits to make sure the cost is worth it. Sometimes your prescriptions might cost less with different plans too, so watch out for those monthly costs as you research.
- Coverage. There are tons of different plans and different names to choose from. As you look through Medicare Advantage Plans, make sure that you spend your time researching providers that offer coverage in your state. You'll also want to make sure that if you need prescription coverage, that's included in the options, as well as your primary care physician if you don't want to switch to someone else "in-network”.
- Reputation. To get a smooth and stress-free experience, we recommend checking out reputable companies first. Whether you go through an insurance company directly or a broker, customer reviews and Better Business Bureau ratings can give you insight into a company's practices. If customers like you are happy (or unhappy) it can help you choose the best match for you.
To help you keep it simple and focus on your health and well-being, Top Consumer Reviews has reviewed and ranked the best Medicare Advantage Plans available today. This way, you can save time and money as you join (or change to) a new plan. We hope our research will help you find the best deals, the friendliest reps, and the top coverage so you can enjoy your golden years stress-free!
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