Choosing Medicare Plans, Ask these ?’s below:
- What is my budget?
You have to look at what fits your lifestyle dollar wise. Medicare Advantage plans tend to be less expensive on a monthly premium basis but have the potential for more out of pocket costs later on related to health issues. In other words, if you get sick those copays and out of pockets expenses can add up. You will find out of pocket maximums with Medicare Advantage plans, but they tend to be high. Medicare Supplement plans have a higher monthly premium but the out of pocket costs are very minimal if you get sick. - Do you want to have a network or not?
Medicare Advantage plans have networks that you will be subject too. Most of the newer Medicare Advantage plans have options to go out of network but you will pay more for those services. Medicare Supplement plans do not have networks and give you more freedom who you can see. - What prescription medications am I taking?
The medications you take can make a difference regarding which Medicare plans are better for you. Don’t think that just because you don’t take any medications means you don’t need a Medicare prescription plan (either stand alone or included in a Medicare Advantage plan). You could face problems being outside of the enrollment window if you wait to add a Part D Plan and/or having a penalty added as well. - What is the purpose of the Medicare plan?
Are you getting this Medicare plan for the extra benefits, for the bells and whistles? Or are you getting this plan for the health benefits and coverage? My
advice is to always get the plan for the health benefits first and the extras are just icing on the cake.
We encourage you to keep these top 4 questions to ask before choosing your Medicare plan foremost in your mind whether you use us, another agency or figure out your Medicare plan on your own.
Choosing medicare plans, ask these ?’s.