It’s that time of year!  You have 5 days left to choose your Medicare plan for the coming year.

 

Did you choose the right plan?

 

If you are confused, this is the episode for you!  I’m going to tell you exactly what you need to know to make the right choice.  

 

3 Choices:

Original Medicare - Part A and Part B

Medicare Advantage

Medigap to Original Medicare

 

Medicare for 62 and older and it was never designed to be free,

 

Part A - Stay overnight

Part B - (Outpatient) Everything where you don’t stay overnight

annual deductibles

copayments

 

Medicare Advantage - networks, HMO and PPO healthcare providers.

 

HMO is smaller and PPO’s are larger and carry Medicare products in different states.

Supplement is a private insurance (F Plan) and it is expensive, but the coverage is comprehensive.

 

• All will have the same basics of Original Medicare Plan.
• Most of them include prescription drug coverage with co-pays
• Some have premiums and some do not - you just have to research.  I don’t recommend plans with a monthly premium.
• Don’t get a plan with a deductible
• Max out of pocket is $6400 for the year for Medicare - so look for the lower maximum out of pocket expenses.  It is for the same coverage.
• Don’t fall for the plans that give you a discount on over the counter items.  It isn’t worth it.
• No monthly premium
• No drug deductible
• Lowest maximum out of pocket expenses
• Make sure your doctors are on the plan that you are choosing

 

There is no binding agreement that keeps Doctors in the network, so they may come and go.

 

If you have the plan with no monthly premium, no drug deductible and a low maximum deductible with $3000 or so, then that is a great plan!

 

If you are looking for supplemental plans, you need to realize that the benefits are standardized.  The F Plan is the most comprehensive and it will go away in 2019.  They are also eliminating the C Plan in 2019 as well.  The C Plan just doesn’t cover excessive charges.  The G Plan means you are responsible for your Part B premium and also for excessive charges.

 

Compare the prices for the F Plan under each insurance agency, because they will be different and then you need to know what the financial rating of that company is.  AAA+ is the best rating and F is the worst.  

 

You can find more information and keep in touch with us in the following places.

 

855-855-7266 - Call us and we will help you!

 

www.themedicarenation.com

 

facebook.com/medicarenation

 

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Find out more information about Medicare on Diane Daniel’s website!

 www.CallSamm.com