Medicare can save you from the burden of costly medical expenses. Even if you don’t usually have any medical expenses, it can certainly benefit you later on. If you are ready to get yourself enrolled, you need to ask the following questions to choose the best plan for yourself.
Can I Afford My Preferred Plan?
Think twice about how your chosen plan will fit into your budget. In this case, you need to look at more than the monthly premium price. You need to calculate deductibles, copays, as well as if you need supplemental coverage.
Commonly, you may have an initial Medicare plan that gives you more benefits than you need. If this is the case, you may need to change your plan. Consider choosing a less expensive plan with fewer benefits.
Do I Need Supplemental Coverage?
When you enroll in Medicare Part B, you have six months to purchase a Medigap plan. These plans can help you cover costs that Original Medicare may not cover and save you money on what could potentially be expensive medical costs.
Medicare Advantage Plans also provide additional coverage in addition to the Part A and B coverage they offer. If seniors are thinking of leaving the Medicare Advantage to opting for a supplement plan, they need to make sure that they will get coverage before dropping their current plan altogether.
Will I Need Vision or Dental Coverage?
Original Medicare doesn’t offer all the services seniors usually need, including vision, dental, hearing, and fitness health care needs. However, you can get these benefits in Medicare Advantage plans. Before opting for a Medicare Advantage plan, always ensure that you look through the policy to understand its coverage.
What is My Health History?
It’s vital to calculate your needs and medical situation when you are enrolling in Medicare. How often do you visit your doctor? Do you have any chronic illnesses? Are you hospitalized often?
If you have severe health issues, and you often need to be hospitalized, remember that Medicare Part B only covers 80% of your entire medical expenses, with no spending cap. This means you need to pay the remaining costs unless you enroll in a supplement plan.
Do I Need To Enroll in Part D?
When you become eligible to get Medicare coverage, you can enroll in Part D prescription drug coverage. If you do not require prescription drug coverage, you can choose to opt-out of enrolling for this plan. However, keep in mind that if you delay enrollment, you could face late enrollment penalties.
Once you have all the previous questions answered, you can now make a more informed decision on what type of Medicare plan you would like to enroll in. It would also be best to contact a Medicare expert, such as the ones with Temmen Insurance, so they can help you shop plans and compare rates.