Exercise caution with zero-premium Medicare Advantage plans

Health insurers will flood the Medicare Advantage market again this fall with enticing offers for plans that have no monthly price tag. 

The number of so-called zero-premium plans has been growing for years, and they can appeal to retirees who live on fixed incomes. Experts say shoppers should exercise caution, because they might find better coverage at a relatively small monthly cost.  

“It’s not a one-size-fits-all program,” said Melissa Brenner, a broker in Charlotte, North Carolina. “You don’t want to look at a zero plan and just enroll in it.” 

Medicare Advantage plans are privately run versions of the government’s Medicare program for people who are age 65 and older or have certain disabilities. The annual enrollment window for 2023 Medicare Advantage coverage opens next week.