3 Tips On How to Choose A Medicare Plan

3 Tips On How to Choose A Medicare Plan

If you’re approaching 65, you’ve got some major healthcare decisions to make. As an American citizen, you’re entitled to affordable health insurance via Medicare.

Yet, this healthcare solution isn’t as cut and dried as it seems. It consists of a complex range of solutions that you can combine to suit almost any situation.

According to AARP, only 10% of Medicare beneficiaries rely solely on Medicare to meet their needs.

So, it’s important to consider all your needs when choosing your ideal Medicare plan. Here are three tips to make it easier for you.

1. Consider Your Existing Coverage

If you’re happy with your existing medical coverage, the first thing to consider is, ‘what is a Medicare health plan going to do for you?’.

Speak to your insurance provider about how your current coverage works with Medicare. In some cases, you can benefit from enrolling in Original Medicare (Part A and B) and adjusting your existing healthcare coverage to suit you.

Since you won’t have to pay Part A premiums if you’ve contributed toward Medicare during your career, you can save quite a bit of money by combining your options this way.

2. Your Prescription Drug Needs

Prescription drugs are another major consideration when choosing the healthcare option that best suits you. Remember, as you age, you’re more likely to need chronic medication which falls into the realm of prescription medication.

Since Original Medicare doesn’t cover these medicines, it’s worth looking into Medicare part D plans or Medicare Advantage plans that pay for these drugs.

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3. Take Medicare Plan Costs into Account

Cost is the major determining factor when choosing Medicare plans. Original Medicare’s the cheapest option.

However, while you might not have to pay for Medicare Part A, you’ll still need to contribute toward Medicare Part B. You’ll also have to pay for certain treatments out of your own pocket.

Medicare supplement plans cover these extra costs, but also have premiums attached to them. Then there’s Medicare Part D where you pay a monthly amount toward prescription medications.

Medicare Advantage plans are a one-stop solution for all your healthcare insurance needs. Yet, these come with some of the highest premiums of all.

The bottom line is that you get what you pay for regardless of the health insurance you choose, and it’s sometimes complicated to switch plans if you change your mind.

That’s why it’s important to take as long as you need to compare Medicare Plan prices so you’ll get the best value for money according to your needs.

There’s no right or wrong answer when it comes to choosing health insurance.

More Tips for Making Good Choices

Your doctor is your first port of call whenever you’re deciding about health issues, and can offer valuable advice when it comes to choosing your ideal Medicare plan.

Another thing to consider on the topic of health is preventive care. If you’d like to avoid medical expenses by staying healthy for as long as possible, keep browsing our website.

We feature a variety of lifestyle and health tips to help you stay fit and healthy.

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