“Why doesn’t every Medicare beneficiary have a Medicare Supplement plan? Why do some have a Medicare Advantage plan instead?“ I told Ruth I’ve received several calls this month asking these questions. You may wonder this also, so let’s talk.
Debbie is new to Medicare and wanted to talk about her options. First, we talked about Medicare Supplement plans including the benefits and premiums. Debbie liked the idea of being able to go to any provider (doctor or hospital) that accepted Medicare instead of having a network of providers. She also liked knowing the maximum she could be out of pocket for medical expenses was low and very manageable. Debbie said her cousin has a Medicare Advantage plan and does not like it; no provider he wants to go to accepts his plan. Debbie liked the Medicare Advantage lower premium and did not really mind paying co-pays when she had something done. But she did not like the maximum she could be out-of-pocket in a year. Debbie also did not like having a network of doctors she had to use. “Why would my cousin want that plan?” Debbie asked. It is always important to look at the benefits you get as well as the monthly premium fitting in your budget. When I told her about Medicare Supplement premiums for someone on Social Security disability, she understood why Medicare Advantage plan worked. Debbie said she thinks her cousin just does not understand his plan and how to find out who accepts it. I suggested he contact his agent. Oops! He does not have an agent in Arkansas; he enrolled through an 800 number. Debbie asked if he could change agents so he would have someone to help him. Yes, he can. It is very important that you understand how your policy works, which providers accept your plan and what costs you should expect to pay. A certified, professional agent can help you. Debbie signed up for a Medicare Supplement and Prescription plan. The monthly premiums and out-of-pocket costs fit in her budget, and she liked not having, as she said, “any moving parts.” Henry called about a Medicare Advantage plan and was particularly interested in dental benefits. After looking at the plans available in his area, he found out that his dentist does not accept any of those plans. Make sure you check that your providers accept the plan before you sign up. Do not just sign up for a plan that looks like it has great benefits then to find out those benefits will not help you with your providers or you need to change providers. Everything you hear or read in ads may not apply to you. Start getting ready. Every January 1 all Medicare Prescription and Medicare Advantage plans change. Contact a certified, professional agent to help you review your plan and what’s new in 2023. Information is available AFTER October 1. Confused? Need help? Call 501-868-6650 and say “Caroline, can we talk?”
0 Comments
Leave a Reply. |
AuthorCaroline Beauchamp specializes in personalized life and health insurance solutions. Archives
September 2023
Categories
All
|