For 2011, the annual period for enrollment in Medicare supplemental plans starts on October 15 or about a month earlier than in the past few years. It ends on December 7. Prospective beneficiaries only have this period to either enroll or cancel existing memberships to prescription drug plans (PDP’s) or Medicare Advantage (MA) plans.

Just like in the past, many people are expected to take advantage of the opportunity to replace their MA with a supplemental policy which is generally considered as having better coverage that does not restrict choices to specific networks of hospitals and doctors. Following are some useful tips on how to make better informed health care decisions.

– Buy the plan that best suits your requirements by comparing plan benefits. – Although plan standards in terms of general benefits are set by the federal government, they may offer slightly varying benefit packages. Plan F (plans are classified by letters A to N) is the most comprehensive and arguably the most popular. Other good options to consider are plans C, G, and N. These plans, for one, offer limited cost-sharing which a lot of people may prefer.

– Get quotations from various insurance companies but put more emphasis on those with “A” ratings. – Because most plans offered are similar, the main factor to consider is the price. By getting quotes from several accredited providers, you can get the best-suited coverage for your needs at preferable rates.

Dealing only with A-rated firms will greatly lessen the risk of encountering not-so-well-funded fraternal entities or insurance companies that offer Medicare supplemental insurance policies, or whose services leave a lot to be desired. Buying from a company with an A rating practically assures you of quality services that will spare you from a lot of possible problems in the future.

– Determine if you are eligible for guaranteed issue. – With a guaranteed issue, you need not disclose any pre-existing conditions or answer any health-related questions just to be eligible for plan coverage. Knowing that you are qualified for guaranteed issue can greatly influence your choice of plans. For one, you will have more options for better and bigger coverage.

– If possible, enroll early. – Every enrollment period finds accredited insurance companies being flooded with massive applications. In recent years, individuals who applied during the last few days of the designated enrollment period had to wait for several weeks or months before receiving their insurance cards and policy. Be smart and try to decide early so you can enroll within the first couple of weeks of the allotted period for enrollment. This will make sure that by New Year, you will already have your copy of the policy, and your insurance cards.

– Don’t take the prescription drug plan for granted. – Most MA’s include coverage for prescription drugs. However, there are no supplemental plans that automatically include such benefits. Medicare members who switch from Medicare Advantage plans to Medicare supplemental coverage will find it necessary to buy standalone plans if they would want to include their prescription medications in the coverage for 2012. Many viable and affordable standalone options are available, anyway.

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