The CMS Medicare plan finder revealed
This Post originally appeared on LinkedIn on March 31st 2023 and is written by Scott Nichols:
Today we highlight the Medicare Plan Finder tool offered by CMS Federal Medicare & Medicaid. Agents believe this tool is accurate. It is not
This tool ESTIMATES costs. That’s all. How do we know this? CMS told us directly!
This is how it really works.
The CMS Medicare Plan Finder only shows what the carriers have filed with Federal Medicare & Medicaid. CMS (Federal Medicare & Medicaid) and the Medicare Plan Finder tool are NOT connected to the insurance carriers servers. Therefore, if there is any change in plan benefits, RX costs, etc. they must wait for a new filing from the carrier, process that filing, and then put it on the Medicare Plan Finder Tool.
This can take a while. It is not in real time. It’s on Federal Government time. As one of the CMS employees in IT security shared with me, “We lean on the word estimate heavily” and “this is why we have links to the insurance carriers websites for people to go and check the estimate we show.”
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