It’s too enticing. Some nice young stranger calls you up and asks if you’d like to add benefits to your Medicare Advantage coverage. Of course you would. And so you answer all their questions, and soon enough, you’ve got a new set of insurance cards in the mail.
The trouble is, they’re from a carrier you’ve never heard of, and the plan only covers some of your drugs and doctors. You’re now on the hook for hundreds or thousands of dollars of care.
Unscrupulous call centers are scamming Medicare beneficiaries with calls like these. They’re making lots of promises and taking advantage of your inherent trust in someone who claims to be an expert.
The truth is that beneficiaries can never add benefits to a plan. They can change plans, or purchase additional coverage, but they can never add something else to their current plan – especially if it’s being advertised at no cost.
First, know that any unexpected call you receive about Medicare is illegal. The government has put many rules in place to outlaw high-pressure sales tactics, and these calls are expressly forbidden. If you’re not the type to just hang up on unsolicited calls, at least tell them you know what they’re doing is illegal. And, you can report the call to 1-800-MEDICARE.
Second, should you find yourself in conversation, never commit to a change without talking to an expert you know and trust. While we hope that’s one of our friendly faces, you should always run benefit decisions by the broker you’re working with. If you are interested in those advertised benefits (whether that ad was legal or not), your broker can help you find a plan including those benefits, and weigh whether making a switch is a good fit for your situation.
Finally, you can get some insight into how plans are designed. Generally, plans have a fixed budget to address the healthcare needs of a community. They can shuffle that money between benefits, but they’re always drawing from the same pool of cash. Having a rich supplemental benefit may mean that your medical copays will increase. Beware of any one benefit seeming too good to be true – you’ll probably find yourself with lighter benefits somewhere else.
With all that said, some policies can complement your existing plan quite well. These plans can offset the cost of a hospital stay, cover your share of an ambulance trip, and even help replace lost income. We’d love the opportunity to help you design a complete benefit package. Reach out to us for a no-cost, no-obligation consultation.