Mental health and psychotherapy benefits are typically capped and should be noted. Retirees should be able to transfer between plans without any waiting period. The plan should permit coverage changes due to changes in family status without any waiting period. Most managed care plan premiums are less than the traditional Medicare plan. However, if you are under treatment, some services and supplies may be covered by one plan but not by another.
Many retirees take prescription drugs.
If you are taking prescription drugs, check to see if the drug is covered by the managed health plan and if there are any annual or lifetime limits on coverage before switching plans. It is important for a retiree to understand the differences in benefits, costs, and exclusions in all offered plans. Likewise, some insurers may institute preexisting conditions clauses, additional costs, or deny coverage. Retirees should be aware of this possibility before making a health plan change. The traditional Medicare and Medigap policy does not provide coverage for long-term care services that assist people in maintaining an independent lifestyle.