There is no doubt that the 2018 Medicare Advantage Plans reap manifold benefits to the policy holders, and thus, the growing popularity of this scheme seems obvious and justified. However, nothing under the sun is absolutely perfect, these plans have got its downsides as well. Paragraphs underneath shall throw light on a few of the key points in that regard.
You can join these plans at specific times of the year only
The biggest cons of the Medicare Advantage plans are that you can’t participate in these plans, whenever you would like to join. Enrollment in these plans, happens once in a year, and if you have missed the date, it is likely that you have to wait for next enrollment term to avail this benefit. As such, this plan definitely lacks in its flexibility.
The rules and regulations vary from one provider to another
Contrary to the Original Medicare Plan, these plans are offered by the private insurers, approved by Medicare and hence, the rules and regulations, the scopes and extent of coverage as well as the cost of these plans vary from one provider to another. As such, it definitely lacks the uniformity in these aspects that often leads to ambiguity and confusions related to these points.
You might have to look for a new provider at any point of time
The participants in this service network retain the right to decide, if they want to move out of the framework. If your provider decided to leave the network, you will have to shift to a new provider, and it might compel you to comply with a new set of rules and regulations that may not fit well with your needs and requirements. If such instances happen to you, the only option is to resume back to the original Medicare plan.
Keep in mind that the provider, offering you this scheme is basically on an annual contract with Medicare and it is up to them that they want to renew the contract after the initial contract term.
Another challenge is the insurers, usually, imposes stringent rules and regulations for the policy holder to avail the benefits. Sometimes, it really turns impossible for the policyholders to adhere to such stringent terms and conditions.
In spite of these cons, it stands out of the scope of debate that these plans offer significant benefits, if you are able to pick the right plan from the most reliable providers.