Senior Healthcare Advisors Blog
Navigating the Medicare maze can be overwhelming for beneficiaries. Usually, people qualify for Medicare at age 65 and are automatically signed up if they're receiving Social Security payments, unless they take steps to opt out.
Original Medicare comes in two parts - (Part A and Part B). Part A covers a portion of hospitalization expenses and Part B applies to doctor bills and other medical expenses, such as lab tests and some preventive screenings. But some seniors may find better value ....
with a Medicare Advantage (Part C) plan. These plans are run by private insurance companies regulated by the government, and they must offer coverage that's comparable to Original Medicare Parts A and B. Most Medicare Advantage plans also include prescription drug coverage, which is an optional add-on called (Part D) for beneficiaries who keep Original Medicare.
Some Medicare Advantage plans have a $0 monthly premium, while others come with a higher monthly premium. You must continue to pay your Part B premium, which is expected to be $134 per month for most beneficiaries in 2018. Medicare Advantage plans are similar to individual health insurance policies you may have received through your employer or signed up for on your own through the individual insurance market, in that they have different monthly premiums, provider networks, co-pays, coinsurance and out-of-pocket limits. The trade-off for a lower premium is usually higher co-pays or coinsurance.
Whether or not a Medicare Advantage plan costs more, it could be better or worse for you than Original Medicare depending on your health needs, lifestyle and budget. You should carefully review the details of each plan and make an educated choice based on your health, budget and tolerance for financial risk.
Original Medicare vs. Medicare Advantage
If you decide to sign up for a Medicare Advantage plan, you may enroll between Oct. 15 and Dec. 7 – the period known as Medicare Annual Election Period – in order for your coverage to start the first of the following year. (Original Medicare has separate enrollment periods for beneficiaries who aren't automatically enrolled.) Because of government regulations, Medicare Advantage premiums are not influenced by age, health status or the method by which a consumer signs up. Monthly cost and plan availability varies from county to county.
If it's a Medicare Supplement plan your looking for, the best time to enroll is during your Initial Enrollment Period. This period runs for a total of seven months that includes three months before your birthday, your birthday month and the three months that follow. During this period you are guaranteed coverage, meaning there is no medical underwriting done to qualify you.
What's Best for You?
Let's review some of the important points for each Medicare coverage option:
With Original Medicare
With Medicare Advantage
With Original Medicare and a Medicare Supplement
Need Help With The Details?
Rest assured that there are established Advocacy Groups available to help you with your Medicare options. Senior Healthcare Advisors assists thousands of seniors every year to make Medicare choices that are right for them.
After speaking with us and getting a clear plan of action, many will choose a plan and confidently put their Medicare decisions behind them. Understandably, others will want more time to decide.
In either case, there is never any pressure to choose a plan and there is never a charge for our services or advice.
The Right Information at the Right Time
Could make all the Difference with Your Medicare Decisions
Senior Healthcare Advisors is a leading resource throughout the country for Medicare knowledge and guidance. Our mission is to educate seniors about their options
and empower them to make the Medicare choices that are right for them.
Our licensed Medicare Advocates will work with you Free of Cost to put your Medicare and Part D prescription drug plans together for the lowest possible cost in your area .... Guaranteed! Additionally, we'll review your plan annually to ensure your getting the best possible coverage for the best price, year after year.
Call 888 357 5020