If you’ve gone thru and read the other pages in my Medicare tutorial, you’ll be able to see that having Medicare alone covers most of your healthcare expenses, but not all of them, and can leave you exposed to a crippling financial burden if you need to pay your share of the bill. There can be several options for insurance that can work with Medicare to help cover most of your cost share. Some of these are:
- Medigap plans
- Medicare Advantage plans
- Employer, or retiree, group plans
- Medicaid
- Veterans Affairs (VA) or TRICARE
It’s best to talk with an independent agent who is not captive to only one insurance company and able to only offer their plans, but is able to work with many different companies’ plans and who has a duty to show you what solution is in your best interest, even if it means they don’t sign you up for a plan and make a commission.
There are several questions you should think about in determining which plan may be best for you:
- Do you plan on traveling much to different states or other countries?
- Do you want the ability to see any doctor who takes Medicare, or are you comfortable staying within a certain network of providers?
- Would you rather spend more in premium each month to lower potential out-of-pocket expenses, or are you willing to save more in premium and pay more out-of-pocket when health needs arise?
- Do you mind getting referrals if you need to see a specialist?
- Are you concerned with being turned down later because of a health condition when trying to switch to a different plan?
- Is it ok if you’re charged a copay at the time of your visit?
Each person’s situation is unique. The plans available are different from state-to-state, and even can vary greatly depending on your location in that state. Plan premiums and availability are usually based on your county or zip code of residence. And add to this the fact that things are always changing. Premiums change; new companies will offer plans; other companies decide not to take new subscribers, etc. It pays to have one person you trust whom you can call and get hold of to help you navigate this important area of your life. If you like what I have to offer here and think I may be able to help you in finding a plan that is a good fit for you, please contact me to set up a consultation.