Medicare insurance is designed to provide affordable, high-quality health care to senior citizens and disabled Americans. Because everyone’s medical needs and finances are different, there are a variety of Medicare plans available, each of which might be better suited to your unique situation. The following tips will help ensure you get the coverage you need without overspending.
Understand the options.
Medicare insurance is divided into parts, each offering different benefits and premium plans. For instance, Part A pays for inpatient hospital services, while Part B is designed to pay for doctor’s visits and outpatient services and usually comes packaged with Part A in what is known as Original Medicare. Part C is an alternative to Parts A & B, while D is supplemental coverage used for prescription drugs. Therefore, spend some time talking to a professional about what combination best suits your needs.
Find out how Medicare insurance affects your other coverage.
If you already have health insurance through a retirement plan or your spouse’s employer, Medicare may change your other benefits in significant ways. While you can carry both, you may have to change doctors or use different procedures for getting referrals.
Assume enrollment is automatic.
Many patients assume that enrollment in Original Medicare happens automatically when they become eligible at 65—but you do have to enlist yourself. By the time you realize this mistake, you’ll likely have incurred a late enrollment penalty. There is also a risk you will have a health care emergency while you are still not yet covered.
Re-enroll next year without a second thought.
As an older adult, your health needs can change rapidly. Therefore, take the time to review your Medicare policy at the end of each enrollment cycle to make sure it is still the most affordable, comprehensive option.
Choosing the right Medicare insurance plan can be daunting and confusing. For over 40 years, Ronny Voltz Insurance Agency has helped clients throughout the Texarkana, TX, area navigate their options and choose the best coverage for their needs and budget. Visit their website for more on their Medicare services, follow their Facebook for more insurance tips, or call (903) 793-1068 to make an appointment and request a quote.