If you are planning to apply for Medicare coverage soon, you should enter the market understanding what your options are. Whether you plan to enroll in Original Medicare or a Medicare Advantage plan, you need to know what coverage you will receive after enrollment. Here are some important things you need to know about choosing a Medicare plan.
Consider Your Eligibility
You must be 65 years old or have received at least 25 months of disability benefits to qualify for Medicare. Make sure you are eligible before pursuing a policy. If you are approaching the point of eligibility, discuss your enrollment with a qualified specialist.
Think About Medicare Costs
Although some Americans are eligible for premium-free Part A benefits, the policies are also available for purchase. Determine whether you qualify for premium-free Part A, as this could lead to significant health care savings for you. Also, consider your access to other forms of health care coverage. If you have qualified employer-based coverage, you may be able to delay Medicare enrollment until that coverage runs out.
Consider Medigap Coverage
If you are struggling to choose between Original Medicare and Medicare Advantage, be sure to keep Medicare Supplement Insurance (Medigap) in mind. Medigap coverage can make an Original Medicare plan much easier to manage, giving it a slight advantage against Medicare Advantage.
Prescription Drug Needs
If you have conditions that require prescription drug treatment, you will need prescription drug coverage included in your health care benefits. With Original Medicare, prescription drug coverage is not automatically included. You will need to enroll in Part D benefits separately to get prescription drug coverage. If you do not want to manage a separate prescription drug plan, you may prefer to enroll in Medicare Advantage. Many advantage plans have Part D benefits built into the policy.
Doctor and Hospital Choice
Many Medicare Advantage plans only allow you to see health care professionals who are members of a specific network. If you are considering a plan, be sure to review their network to ensure that your preferred providers are covered. The doctors and hospitals you have access to dictate a large portion of the overall value of your plan.
Find A Medicare Policy
If you need a Medicare policy, you shouldn’t shop alone. The Medicare experts at The Fussell Group Insurance Advisors are equipped with the answers you need to find a policy that works for you. Reach out to us now for more information and we’ll gladly schedule you for a quick consultation.