How To Plan Your Medicare Benefits
To get the most out of your Medicare, you'll need to plan out how you'll use this service. There are several options to choose from and you'll need to understand how each option differs.
Know When You Qualify
The first step in planning Medicare is to find out when you'll qualify for Medicare. Until then, you'll need to make plans regarding your health without Medicare as a factor. Generally, you'll qualify for Medicare when you turn 65.
Decide Whether to Enroll in Plan B
Determine whether you'd like to enroll in part B. Almost everyone enrolls in part A. Part B requires that you pay a monthly premium. If you feel like part B isn't necessary, you may choose to delay it.
Choose Medicare or Medicare Advantage
Decide whether you'd like original Medicare or a Medicare Advantage plan. Medicare pays a fixed amount to companies that offer Medicare Advantage plans. Make sure to understand the rules for a particular Medicare Advantage plan since they might have specific rules on when you may see a specialist, for example.
Decide Whether to Obtain Prescription Coverage
Decide if you'd like to obtain prescription coverage. If you are still working and receive health benefits from your employer, though, you may find it unnecessary to obtain any of the forms of supplemental coverage.
Consider Getting Supplemental Coverage
Determine whether you are happy with your current level of coverage or if you need supplemental coverage. For example, Medigap provides coverage in areas that are not normally covered under Medicare, which is essential if you are not receiving benefits from an employer.
Know If You Qualify for Subsidies
If you have a limited income, there may be options available to you that can help you pay for your costs. For example, there are government subsidies that will lower the cost of your Medicare premiums.
Look for Special Plans You Qualify For
Certain individuals receive additional Medicare benefits and coverage. These include:
- Members of a union
- Those currently serving
If you will receive additional benefits, there's no reason not to take advantage of them.
If you are not sure how you should plan out your Medicare, the best decision you can make is to head to a Medicare planning center. These services will usually visit you in your home and will provide you with advice on how to make important life decisions involving Medicare with absolute privacy. Oftentimes, there are angles that a Medicare patient might not have thought of that can easily become a problem if they are not dealt with.