October 1st marks an important day every year in the Tennessee Medicare Advantage world. It welcomes the first day that carriers can advertise the available Medicare Advantage plans, and their cost, for the future plan year! We eagerly await this day to evaluate savings opportunities that are available to the over 15,000 beneficiaries that trust HealthTN to discover these savings year after year. In previous years, we have kept our research limited to just our own agents, but this year we decided to release some of this information to you. Below we list all of the plans, with built in drug coverage, ranked by lowest estimated overall cost.
Please note, this data does not speak to the quality, customer care or network size of any of the plan carriers, each carrier should be evaluated carefully as the differences between costs could be minimal and your specific situation could have a sizable impact on the cost of your care or available doctors within the network. All rankings are based on a generic drug list of 25 Drugs “listed here” here were the findings of the lowest overall cost plans on Medicare.gov.
Blue Cross Blue Shield of Tennessee has the three of the first four lowest cost plans MA plans in Davidson County with their BlueChoice HMO plan coming in at number one, followed by the BlueAdvantage Garnet PPO Plan and the fourth is the Bluechoice Plus (HMO) plan. United Healthcare’s Medicare Advantage plan, the AARP Medicare Complete HMO plan, came in with the 3rd lowest cost. Both the Bluechoice HMO and the Blueadvantage Garnet claim a 0$ monthly consolidated premium and 0$ RX deductible. The additional four plans to round out the top eight include: at #5 a Cariten Health Plan — Humana Gold Plus h4461-029 HMO Plan, at #6 is another Cariten Health Plan — Humana Gold Plus h4461-018, #7 is a Blue Cross Blue Shield plan — BlueAdvantge Ruby (PPO), and lastly, Humana, with the Humana Choice H6609-089 (PPO) plan. You should expect monthly premiums of less than $100 in each of the top eight plans and will find some higher premiums in the higher ranking plans, but they could have a lowered max out of pocket costs as well. You can find the full report below.
In the Tennessee Medicare system there is one type of plan provided by the Federal Government, free to you when you turn 65 if you or your spouse paid Medicare taxes. It is called Medicare Part A. You will also hear of another type of medicare called Medicare Part B, this is Medicare’s Prescription Drug Coverage that you can purchase alongside of your Part A and Part B. The third type of Medicare coverage is called Medicare Part C, this is the category Tennessee Medicare Advantage Plans fall into. Medicare Part C are Medicare plans provided by private insurance companies. They contract specifically with hospitals and healthcare providers to offer a low cost plan that provides your medicare part A, B and D coverage into a single plan (there are also medicare Advantage plans without drug coverage that are available as well). These plans can be effective in covering the gaps and hidden costs that Medicare A, B and D do not cover. These Medicare Advantage plans can be enrolled in one of two ways; either through an Annual Election Period, sometimes called an Annual Enrollment Period, or through a Special Election Period. The 2016 Medicare Annual Election Period for Tennessee starts on October 15th 2015 and goes through December 7th, 2015.
If you are looking to sign up for a Medicare Advantage Plan in Davidson County, then you have a couple of options. First of all, verify that we are in a annual election period (above) or if you qualify for a Medicare special election period if we are outside of an open enrollment period. If you have an insurance carrier that you prefer to work with, you may call the insurance carrier directly at any time and they can connect you with an agent licensed to sell any of their available plans. A second option is to work with an independent broker or licensed independent senior care agent and they will likely be able to show you plans from a number of different carriers. Keep in mind though, a Senior Care Agent is only permitted to sign plans they are personally credentialed to sell, so you will want to check with your agent and make sure they are credentialed to sell the top carrier in your county. Our Senior care Agents are licensed to sell all of the major providers in Davidson County. Thirdly, you are never required to sign up for a Medicare Advantage Plan. You can always just enroll in your Medicare Part A or B, we recommend www.medicare.gov as a place to get started.
This information is not meant to advise or instruct your personal Medicare choices in any way. All of this information was gathered from Medicare.gov during the week of October 1st, 2015 and December 7th, 2015 and could have since changed and could contain errors. We strongly recommend you speak to a Medicare Agent or your Licensed Medicare Advantage agent before making any decisions regarding your Medicare coverage choices. You can review our full research process here.