If you're like me, Medicare open enrollment is a time spent with a lot of head scratching, researching, and wondering exactly what you'll end up with at the end of the process. Fortunately, there are some great tools to help you through the process, like this guide. Keep reading to discover what plans cover, what your actual costs will probably be, how to stay in network, and what to expect from your new plan.

Comparing Coverage Options

The first step is looking at your coverage options. If you're like most individuals on Medicare, you received a mailer entitled Medicare & You with the upcoming year on it. There is a TON of great information in this book, but to find the right plans for you, skip towards the back. This section, where the layout changes, is customized for your area with Medicare Advantage plans that you're eligible for. I use this book as a starting point in the process.

As an example, you can start by looking for health plans that are low premium and have set costs for doctor's visits and low prescription drug costs. This allows you to start eliminating plans that aren't going to work for you. If you like to travel, you might consider national insurance brands, such as Aetna, Blue Cross, Cigna, and similar brands. You can also eliminate plans with high out-of-pocket limits in case of a serious health problem, as that can be difficult to cover with a limited income.

Exploring True Costs

Once you've eliminated plans, start looking at the true costs. Go to the websites listed by plans that you're interested in and start looking at the actual costs to go to a primary doctor and any specialists that you visit during the year. Make sure to also look at the cost of medications that you take, especially any that you can't get a generic because that may be costly. At that point, you can estimate how many times you're going to different doctors per year on average - as an example, a couple of primary doctor visits and two to four specialist visits per year, plus the annual cost of prescriptions.

With these numbers pulled up, you can find the most cost-effective plans and figure out how much the insurance and medical care will cost every year, including premiums. If you have a high risk for certain diseases or know that you've got a particular surgery coming up, you can add those costs in as well. At the end, you'll have a good idea of what different plans will cost. However, we all know that cost is not necessarily the only deciding factor in selecting insurance.

Checking Out Networks

Great doctors are like gold, and when you get them, you don't want to lose them because you've switched your Medicare Advantage plan and they're no longer in network. While you're on the plan website, take a moment to search what providers they work with so that you're not leaving a great doctor behind. You can also check out hospitals that are covered under the plan, as well as some of the other providers that may be covered, such as chiropractors, massage therapists, and mental health professionals.

Look at Reviews and Perks

At this point, you may be down to a few decent plans, so it's time to look at additional details. Take a look at reviews for the insurance company. If an insurance plan looks great on paper but has horrible reviews, it's best to pass on it, even if you have to pay a little for a premium from another company.

If you're still undecided, it's time to look at the perks that different plans offer. As an example, one may offer a free scale and fitness tracker, while another provides a certain amount for healthy groceries every month on a card, while a third offers a certain amount of money every quarter for supplements and medical supplies. These perks may more than make up the difference of a slightly higher premium by saving you money otherwise.

Tools for Finding the Perfect Medicare Advantage Plan

Beyond the Medicare & You booklet that I mentioned above, there are several great tools for finding the perfect Medicare Advantage plan for your needs:

• Medicare's Plan Finder provides you with a searchable database of plans in your area. It's similar to the Medicare & You booklet but is faster and easier to search as you can add your medications and pharmacies, and then filter through several factors.
• If you prefer a non-government site to check plans, Medicare Advantage is a great site that has similar filters to find the perfect plan.

If this article has helped you, why not take a minute to check other articles?