Health is one of life’s top priorities, yet navigating Medicare insurance can be confusing and frustrating. From assessing your coverage needs to understanding policy costs, selecting the best Medicare plan isn’t a simple thing. If you’re approaching age 65 or considering changing your existing coverage, choosing the right Medicare plan can provide peace of mind and save you a lot of stress. Let’s explore why finding the ideal plan is so important.
Top Reasons Why Choosing the Right Medicare Plan Matters
At age 65 (or if you have a qualifying disability) you can choose from Original Medicare with additional coverage options or an all-in-one Medicare Advantage plan from a private insurer. While both options offer benefits, the costs and limitations will affect your health coverage.
Get the Coverage You Need
Predicting your future medical needs can be a challenge. Many people weigh the monthly premium against anticipated coverage, but everyone’s needs differ. For example, some will appreciate the flexibility of Original Medicare combined with the added financial protection of Medicare Supplement Insurance (Medigap). In contrast, others might prefer the convenience of a Medicare Advantage plan that bundles all coverage into one package.
Save Money
By carefully evaluating your options you can usually get the coverage you want (with some cost savings as well). Researching the available options and studying Medicare resource guides will help you save on premiums, deductibles and copayments.
Access Local Networks
Medicare Advantage plans have many benefits, but often restrict people to a provider network. If you already have a preferred healthcare provider, check to see if the provider is available within a plan’s network.
Prevent Health Insurance Coverage Gaps
Failing to enroll in Medicare Part B and Part D can lead to a late enrollment penalty that adds to your monthly premium. Similarly, not selecting a Medigap plan may result in you having to pay deductibles, copayments and coinsurance not covered by Original Medicare.
Don’t Overpay for Prescription Medication
Whether you enroll in Medicare Part D or get drug coverage through a Medicare Advantage plan, it’s important that you carefully analyze each plan’s formulary to see what is covered. You may be able to save money by lowering out-of-pocket costs, using preferred pharmacies and accessing generic drugs.
Add the Extra Benefits You Need
If you want affordable dental, vision and hearing insurance, you might choose to purchase a Medicare Advantage plan. Insurance coverage often features the additional benefits of hospital indemnity insurance, fitness memberships and wellness programs. Evaluating all the available plans will ensure you gain many benefits and cost savings without sacrificing the coverage you need.
Get Free Advice on Selecting a Georgia Medicare Plan
Affordable Medicare Solutions can help you find the right Medicare plan, from evaluating your options to guiding you through enrollment. For help with health insurance and other types of coverage in Georgia, speak with our team today. Call (770) 945-5261 or request a free quote now.
