Choosing a Medicare Plan Is Really Not That Puzzling As It Seems
With so many choices available along with recent alterations involved in the Medicare, some people find it very confusing. And for those who are new to the elderly care all these words Medicare, Medicaid, Supplement Plans, Advantage Plans can be highly bewildering. However, you don’t need to feel intimidated by these insurance plans because they are not as confusing as they seem.
Many people avoid the discussion of Medicare plans as they find it overwhelming and even mentally exhausting to understand how to pick the right plan. The decision making process will become very easy for you after reading this article.
When can you make the changes in your Medicare Plans?
Every year between November 15 and December 31 you get the opportunity to make changes in your Medicare plans. You can choose more cost effective plans for the coming year during this time, which comes only once every year. As soon as the November month starts, many people start discussing about the Medicare plans. The ubiquitous conundrum is almost palpable and one question that everybody has in mind is “do I stick to my plan or make changes and go for another plan?” You are not required to take this decision all alone, and you must take the help of an experienced and licensed insurance agent in your local area to take such decisions. It is advisable to seek help of an agent that specializes in Medicare supplement plans, so that you get the right guidance.
What are your choices during this period?
1. You can stick to your original Medicare Plans which offers hospital insurance (Part A) and medical insurance (Part B). Along with this original Medicare you can take prescription drug insurance (Part D).
2. Again you can stick with your original Medicare where, in Part A you get coverage for hospital care and hospice and in part B you get coverage for medical facilities such as blood and ambulance. To this you can add a supplement plan and Part D – Prescription drug plan.
3. Your third choice is you can get Medicare supplement plans which are provided by private insurance companies. There are currently 10 supplement plans available namely A, B, C, D, F, G, K, L, M and N. All these plans provide exactly the same coverage and it does not really matter from which company you buy them.
4. You also have an option of going for Medicare Advantage plan which is known as Part C. With this option you get covered for vision, hearing, dental, Gym and nutritional supplements.
Which one of these options is good for you?
With so many options available a person is bound to be puzzled and confused as in which plan to choose to get the maximum benefit. Moreover, the insurance need of every individual is unique so you cannot just go for the same package as your friend. But like I have mentioned earlier in the article you must take help of a qualified and reputed insurance agent to decide what is best for you or your parents. However, answers to certain questions like do you prefer to see the doctor of your choice? Do you travel overseas a lot? How important is gym membership or dental care to you? Can help you decide which plan is best suitable to you.
In the end all I have to say if you must enroll into Medicare as soon as the opportunity opens up for you, else you will have to pay more and suffer the penalty later on. Also remember you are not alone in this process and taking help from an agent will definitely be beneficial.