If it’s time for you to sign up for a Medicare plan, it may be tempting to just follow the advice of a family member or friend regarding which plan you should choose. However, just because a particular Medicare plan works for someone else, it doesn’t mean it should work for you as well. So, we’ve put together a few tips that will help you pick the right plan and maximize the benefits of the coverage offered.
- Enroll on time: It’s best that you enroll for Medicare during the Initial Enrollment Period (IEP), so you can avoid paying a penalty. If you do intend to delay your enrollment, ensure that your current health insurance plan will still offer coverage.
- Pick the right plan: It’s important to pick the right plan so you are able to access all the services you need. So, if you are unsure of which plan would be best suited to your needs, you may want to speak to your primary care provider to check what type of insurance they accept. Also, it’s a good idea to list out all your healthcare needs and pick a plan that will offer you benefits that you can use.
- Enroll in a cost-saving program to save money: You can take advantage of cost-saving programs like the Medicare Savings Program, Pharmaceutical Assistance Program, Extra Help, etc., to ease the financial burden of paying for a Medicare plan.
- Sign up for Medigap for additional coverage: If you have the Original Medicare plan, consider getting Medigap to cover the costs of co-insurance, co-pay, etc. However, keep in mind that Medigap will have its own premium as well. But, if you need to make frequent visits to healthcare providers, it’s worth getting Medigap.
- Keep your information secure: If anyone happens to call you and ask you for your Medicare information, it’s best you don’t reveal it since it is possible that the person may be committing billing fraud. Only provide your information to trusted health care providers you have consulted with.
Every year, make sure to reassess your coverage and keep a lookout for other plans that may be more suitable to your needs. If you find a plan that has better coverage and lesser restrictions, don’t be afraid to switch.
