Things to Consider When Changing Your Medicare Plan 2012
It is not a secret that Medicare does not cover all the medical services you may need nor the health care expenses you may have. Therefore, instead of relying on your original Medicare plan only, many Medicare beneficiaries select a Medicare Advantage Plan or Medicare supplemental insurance that is approved by Medicare and run by a private insurance company. Adding additional Medicare health insurance to their original Medicare helps many seniors to get better health insurance benefits at lower premiums and out-of-pocket expenses.
If you are currently thinking about getting or changing your Medicare health insurance plan, here are some things to consider:
Are the services you need covered?
Do you have, or are you eligible for, other types of health or prescription drug coverage (like from a former or current employer or union)? If so, read the materials from your insurer or plan, or call them to find out how the coverage works with, or is affected by, Medicare. Talk to your current plan insurance company, before making any changes. If you drop your coverage, you may not be able to get it back if you decide after a while that your new Medicare plan option is not what you needed.
Look at the total cost of your Medicare Health Insurance
How much are your premiums and deductible, and other costs such as copayment or coinsurance? How much do you pay in case you need to see your doctor for a routine visit or illness, or to get surgery at a hospital? What is the yearly limit on what you have to pay out of your own pocket? Note that your costs may vary and be different if you don’t follow the plans rules and, for example, see a health care provider that is not part of the plan’s network.
Can you select the doctor, hospital or pharmacy of your choice?
Is the health care provider you want to consult accepted and paid for by your plan? Do you need a referral to see your doctor? Can you use a close-by pharmacy of your choice to fill your prescription? Can you order your medication by mail? At which rate are you covered for brand name or generic drugs?
Prescriptions
Is the medication you need covered under the plan’s formulary? Are there any coverage rules that you need to follow in order to get your prescriptions, such as buying it at a pharmacy that belongs to your plan’s network?
Health Care Quality
Are you having recent health issues that you didn’t have when you selected your current Medicare plan? Is the treatment included in the care of your current plan? Do other plans include providers, services, drugs or medical equipment that you now need but is not part of your current plan?
Health Care While Traveling
If you are traveling, will the plan cover you in another state or the country you visit outside of the United States?
Although there is a variety of Medicare options available, one plan may be ideal for one person but fall short of covering another one’s needs. Use the internet, a licensed health insurance broker or contact Medicare.gov to understand all your options in order to get the Medicare coverage that fits your situation at the best rate.
