Seniors turning 65 may have a lot of questions about how Medicare works for them. Don’t worry, we’ve got your back. Here are 5 ways to figure out what you need to have the best healthcare once your Medicare-eligible.
1) Medicare Coverage
First thing you want to do is decide if Original Medicare offers the coverage you need. Many seniors feel that it doesn’t offer enough. If it doesn’t you may want to look into:
- Prescription Drug Plan -covers the prescription drugs for seniors
- Medigap -supplemental policy which adds up to an additional 365 days of hospitalization
- Medicare Advantage -smaller network, but many times adds Rx, dental and vision
2) Employer Based or Other Senior Coverage
If you are over 65 and your work offers you coverage, you have VA Senior benefits, or another form of “other” coverage, you’ll want to check how your benefits work with Medicare before you make any changes to your current plan.
3) Are Your Doctors and Hospitals Covered?
If you have Original Medicare, or Medicare and Medigap, you will have the largest network of doctors and health care providers across the country. If you choose to go with a Medicare Advantage plan you will have a smaller network of doctors and hospitals. If you choose this route, make sure your current doctor is in network before choosing an MA plan.
4) Consider Medicare Costs
Before deciding on how to handle your senior health care you will want to consider not only your monthly premium, deductible, and copay, but also what your estimated cost of care will be over the years. You should weigh the monthly savings against a possible future emergency.
5) Travel and Medicare
This may seem like a frivolous thing to think about when considering your plan, but it really isn’t. What happens if your daughter has a baby in another state and you would like to stay with her a few months? If you have a plan with a small network (MA plan) you wouldn’t be able to see a doctor without paying most or all of the out of pocket costs. With Medigap you have the same coverage as Original Medicare. Another consideration is travelling abroad: Original Medicare generally doesn’t cover foreign emergency care. Whereas some Medigap and Medicare Advantage plans offer foreign emergency care.
For further questions about your senior health plan call the number above or contact Senior65.com.