Shopping for Medicare Advantage: 6 pitfalls to avoid
By KATE ASHFORD of NerdWallet
Only 3 in 10 Medicare beneficiaries shop around during open enrollment, according to a 2022 analysis, and only 1 in 10 Medicare Advantage enrollees voluntarily switch plans. But a 2020 analysis of Medicare Advantage plan choices found that more than half of beneficiaries overspent by more than $1,000 due to poor plan selection. Medicare open enrollment is Oct. 15 to Dec. 7, giving people with Medicare a chance to change plans. Whether you’re picking a plan for the perks or neglecting to check next year’s network, here are some traps it’s easy to fall into while shopping for Medicare Advantage.
