Medicare offers a variety of coverage for those that are 65 and over. Because most people retire around this age, it is customary to lose your employer health insurance coverage. Medicare is the perfect solution for this.
There are two main types of policies within Medicare. These two policies are Original Medicare and Medicare Advantage. Original Medicare provides standardized coverage and is a great option for those that are wanting both inpatient and outpatient coverage. If you enroll in Original Medicare, then you’ll also be eligible to enroll in Medigap and Part D.
If you don’t want to enroll in Original Medicare, then you should consider Medicare Advantage. This option allows some flexibility, so it’s a great choice if you’re wanting to choose the coverage that will work best for you. If you enroll in Medicare Advantage, then you won’t be eligible for Medigap or Part D. However, all Medicare Advantage policies are required to provide the same coverage as Original Medicare, and will most likely include additional benefits, such as prescription drug coverage.
While not every single doctor accepts Medicare, the majority of them do. It’s important that you check with your providers before you start accepting care from them. If you do receive medical care that’s not included within your Medicare coverage, then you will most likely be responsible to cover the costs entirely out-of-pocket.
If you have a Medicare Advantage plan, then there may be certain doctors that are included within your network. It’s important that you go to these doctors, because Medicare can’t promise coverage if you receive care that’s outside of your network.
Having a clear understanding of your coverage is one of the best ways to make sure that you’re saving as much money as possible. It’s important to remember that policies can change yearly, so make sure that you stay updated on your policy and any changes that may have been made recently.
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If you have questions about Medicare coverage, then we’re here to help! We understand that Medicare can be overwhelming, so we love helping our clients get the answers that they need.
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