Sometimes your Medicare plan may not suit your overall needs. For example, many people choose to switch over from Original Medicare to an Advantage plan. Others go from one Advantage plan to another. What makes sense for you will depend on your specific health care needs.
Here’s how you can decide whether you’ve got the right Medicare plan going into 2022.
Compare Your Plan To Other Plans
You should compare coverage and prices for alternative plans. If you’re enrolled in Original Medicare, do some research to determine what is offered by Advantage plans in your area and how much they cost. This will give you insight into what another plan may look like for you.
If you aren’t familiar with the insurance marketplace, you may need help with this process. We suggest you contact an insurance professional to get help sorting through the different plans in your area.
Do You Have The Drug Coverage You Need?
Drug coverage is important. That’s why you shouldn’t stick with a benefits arrangement that doesn’t offer you adequate prescription drug coverage. If you are in Original Medicare, you may have a Part D plan that doesn’t work for you or you may not have a Part D plan at all.
Similarly, Medicare Advantage plan members may not have drug coverage included in their plans. When the enrollment period begins, you want to make sure you know what plans offer the drug coverage you need then switch to that plan.
You can determine what is featured in a drug plan by reviewing the formulary. It lists all of the drugs featured in a plan and states their cost. Knowing what’s featured in a plan will help you learn whether the plan offers everything you could potentially need.
Do You Need Medicare Supplement Insurance?
Medicare Supplement Insurance is designed to lower the out-of-pocket cost of Medicare. These plans cover coinsurance, copayments, deductibles, and excess charges. They can be quite useful, but only Original Medicare members are allowed to purchase them.
Learning which Medicare plan would be beneficial for you would only take one phone call to Eldridge Agency. We’ll help you determine if one of these plans could help you save on health care costs.
