Medicare coverage offers a lot of great options for people aged 65 and above to the point where people at this age group have better healthcare access than previous generations.
As you may know, there are more than 25 plans available for Americans to choose from, each of which is unique in its pharmacy and medical provider alliances as well as copays and of course premiums.
However, you shouldn’t just jump in and pick any of these options. But, you must be considerate and thoughtful about your choices.
Here are tips on how to pick the best Medicare plan for your needs.
- Check Coverage Options
The first thing you have to do is consider the coverage that you have now. Perhaps you’re happy with or you’d like to add something else to it.
Knowing these facts will help you narrow down your options as you begin the enrollment process.
- Consult with Primary Care Providers
If it makes sense for you to continue with your current healthcare provider then you should ask if they’ll be able to cater to you via the new plan that you’re thinking of enrolling in.
For instance, if you select a standard Medicare plan, then you’ll most probably be able to stick with your current provider.
But, if you’re considering an HMO Advantage Plan then you’ll have to see if your preferred doctor is part of their primary care physician list.
On the other hand, you have a PPO Advantage Plan that offers some vestige of freedom from these requirements but it also comes with higher additional fees.
- Find Out More About Your Existing Insurance Plan
Prior to starting the enrollment process, look at any existing insurance plans that you have and contact your insurance agent to see if the plan you have is complementary to Medicare.
- Check Prescription Drug Coverage
The cost of prescription drugs is not covered in standard Medicare parts A and B.
However, if you’re considering this kind of insurance then you must purchase a Medicare Advantage Plan or a Medicare Part D plan.
Note that the Mutual of Omaha Medicare Supplement Plan G offers prescription drug coverage within it.
- Do You Travel Frequently
Do you have a second home in another state or do you travel within the US frequently throughout the year? Then you might want to think about using the standard Medicare plan.
That’s because it enjoys wide-spread acceptance across different states and locations, and you don’t have to pick a specific primary care physician.
Both PPO Medicare Advantage Plans and HMO plans can only cover you in certain regional areas. You may also be limited to physicians that are part of their approved network of doctors.
- Check the Price
Medicare Part A covers hospital care at no extra charge to you. Part B offers medical care cover for a monthly premium fee.
The Part B premium is automatically deducted from your overall benefit payment if you’re someone who receives benefits such as the Office of Personnel Management, Railroad Retirement Board, and Social Security. But, if you don’t qualify for any of these benefits then you have to pay out of pocket.
If you need prescription drugs then you’ll need the Medicare Plan D which also comes with a monthly premium whose actual amount depends on your specific location.
Conclusion
The easiest and fastest way to finding the best Medicare plan for your needs is to visit the Medicare.gov website or simply pick up the phone to contact your local healthcare insurance agent.