Medicare Annual Enrollment: Clearing Up the Confusion !!!

Financial Group of Virginia services the Richmond, Norfolk, Virginia Beach, Suffolk, Chesapeake and Petersburg areas.

Glen Allen, VA (prHWY.com) July 26, 2012 - Glen Allen, Virginia - Just like some group health insurance plans, Medicare plans offer an enrollment period during which senior citizens become eligible for Medicare products or, if previously enrolled, can select different products. The Medicare Annual Enrollment period runs from October 15 to December 7 this year. There is certain information you should be armed with prior to entering into the shopping process, including background knowledge on each product. The team at Financial Group of Virginia, a leading provider of health Virginia insurance, discusses some of the issues that have raised questions among senior citizens:

* Medicare Part D costs - Prescription drug coverage is essential for many plan holders, as the cost of brand name and even generic medication continues to climb. Medicare Part D is a stand-alone prescription drug plan offering a certain degree of coverage. The cost of the program varies according to each enrollee's circumstances including the prescriptions used, whether or not the prescriptions are covered under the plan and whether or not they are covered on the plan's formulary, which plan is selected and the pharmacy used.

* From brand name to generic drugs - Those reviewing Medicare Virginia insurance are also curious to find out when the brand name drugs they are currently using are slated to be available in generic form, and when the generic version will be available on their Medicare Part D or Medicare Advantage plan. The answer to both questions depends on several factors and usually is not clear until the generic alternative is available on the market. Once a drug is available in generic form, it will be added to the formularies of those plans that are eligible.

* Staying within the designated network - Finding a physician who accepts Medicare can be tricky. This is one reason why it is important to work with a licensed health insurance agent when reviewing your Medicare Virginia insurance options. Medicare is top rated coverage, yes, but a qualified agent can take a targeted look at the physicians in your local area who are accepting various Medicare plans.

* Is an HMO a wise choice? - In regard to Medicare specifically, a Health Maintenance Organization (HMO) plan can indeed offer advantages to Medicare Virginia insurance enrollees. Due to the way they are designed to coordinate health care according to the regulations of the patient's selected health plan, HMOs typically provide a cohesive care delivery system and offer a strong support system for plan holders to manage chronic illnesses.

Let the experienced team at Financial Group of Virginia help you select the best Medicare coverage for your individual situation. To begin the process, visit www.VAHealthInsuranceQuotes.com to obtain free quotes via the agency's instant quote engine.

About Financial Group of Virginia

Financial Group of Virginia services the Richmond, Norfolk, Virginia Beach, Suffolk, Chesapeake and Petersburg areas. The agency is able to offer a broad range of coverage options thanks to its partnerships with top rated carriers including Anthem, Aetna, Southern Health and Optima. Free quotes are available via the company's website at www.VAHealthInsurance.com.

Contact:
Financial Group of Virginia
4880 Sadler Road, Suite 110
Glen Allen, VA 23060
Phone:
804.290.8783

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