Turning 65 soon? If so, things are about to change, and for most, for the better. Because that is when the soon to be Medicare Beneficiaries can enroll into a Medicare Supplement, and a Medicare Part D Rx plan of their choice.
What to do First … you will want to make sure your Medicare A and B will start when you think they should start. If you have received a letter from Medicare showing your start dates, that is all you will need. If you have not received the letter or your “Red, White and Blue” Medicare card, call Medicare (800-633-4227) and verify your start dates or you may also need to enroll in Medicare Part B, it’s a simple form.
Now that you know your Medicare coverage is going to start an a particular date, you can now start to compare Medicare Supplement plans and rates, Medicare Advantage plans and Medicare Part D Rx plans. All have good points and not-so-good points. First we will start with Medicare Supplement plans:
Medicare Supplement … A Medicare Supplement plan can provide the most comprehensive coverage coupled with the most flexibility when seeing physicians and hospitals of all medicare plans available. The singular downside it the premiums can be expensive. If you are looking for the best available coverage and which freedom of choice when seeing or looking for a physician, a Medicare Supplement should be your plan of choice.
- Medicare Supplement Rates
- Medicare Part D Rx info
- Guarantee Issue Guidelines
- Medicare Excess Charges
- Under Age 65 Medicare Supplement
Medicare Advantage … A Medicare Advantage plan looks and feels like an employer health insurance plan. It typically is a HMO or PPO style plan and usually includes the Medicare Part D Rx coverage. A Medicare Advantage plan has an annual open-enrollment, during the months of November and December. This allows a member to view the new plans and changes for the coming year. If they like a different plan or company, you simply enroll in the new plan/company and your old plan automatically cancels on December 31st. Premiums can be very low and sometimes even $0. They are heavily subsidized from Medicare, which allows for the low premiums. The downside is, the plans and premiums change every year. In some counties companies companies have completely exited leaving residents with Medicare only. Medicare Advantage plans can look very attractive from the outside, so please review carefully to make sure they will cover you for your unique needs. Medicare Advantage plans are usually “County Specific.” If you would like to see the plans in your area, or have questions feel free to call me anytime.
Medicare Part D Rx plans … These are also considered Medicare Advantage plans, so you will have an open-enrollment every November and December to compare any changes in your area. Medicare Supplement plans do not have Medicare Part D coverage, so is you are looking for help with your prescription costs, you will need to look into and enroll in a Part D plan. Many Medicare Advantage plan include this Part D coverage. In most counties there are up to 30 plans from various insurance companies for you to compare, providing this important coverage. Each company pays for and covers prescriptions differently, so it is wise to compare plans with your prescription list. If you would like assistance with comparing these plans feel free to call me and I’ll show you the plans in your area.
With Medicare starting you will have several options. I can help you with clearing away the clutter, and clearly explaining how the plans work, so you can make the right choices for your needs.
Need help or have questions?