5 Pieces of Medicare Advice Everyone Should Hear
If you’re after reliable medicare advice then you need to give this blog post a read. These five top tips will tell you everything you need to know!
If you’re eligible for Medicare, then we know that you likely have lots of questions about how the process works.
This is especially true if you’re enrolling for the first time. From premiums to co-pays to understanding when the enrollment period begins and ends, the process can make your head spin.
You want to stay healthy, but you also want to make sure you have the coverage that you need if something goes wrong.
In this post, we’re sharing with you some of the most important pieces of Medicare advice that you need to know about.
Read on to ensure that you end up with the best possible plan for your needs.
1. Know the Sign-Up Window
One of the most important pieces of Medicare advice?
Make sure you’ve signed up within the window to avoid an increase in your premiums and a possible denial of coverage.
You’re eligible to begin the sign-up process three months before your 65th birthday, and then for three months after the end of your birthday month. You don’t want to have to deal with a ten percent increase in your Plan B premiums because you missed your initial enrollment period.
To learn more about the specifics of the application process, visit this page of the Social Security Administration’s website. The SSA is also an excellent point of contact for any generalized questions you may have about the process.
2. Understand What’s Not Covered
When you’re starting to enroll for Medicare, you also need to know what the plan won’t cover.
Many people don’t understand that coverage for vision and dental care is not a part of standard Medicare coverage. It also won’t cover long-term care and custodial care, such as an in-home nursing aid that helps with daily activities like bathing and getting groceries. Medicare also doesn’t offer coverage for your hearing aids.
Luckily, there are plenty of Medicare supplement plans that will allow you to fill in the gaps in your coverage.
Choose from one of ten major Medigap policies to help you to manage the costs of lab tests, x-rays, and emergency services outside of the United States.
3. Get Familiar with Your Potential Premiums
Another one of the most crucial Medicare tips?
You need to make sure that you’re aware of how much you’ll likely need to pay in premiums each month.
However, many enrollees get a bit confused about which parts of their Medicare plans will require a premium payment. Medicare Part A will likely not require you to make a premium payment of any kind. That doesn’t mean that you won’t still be responsible for paying your deductible or co-payments.
In general, you can expect to pay about $134 each month in premiums for Medicare Part B coverage. However, this exact premium will depend on your income level. If you make more than $85,000 a year, then you’ll need to pay a higher premium.
Medicare Part D, which is generally related to prescription medication coverage, also comes with a premium. That premium will depend on the specific Part D plan you choose to enroll in.
4. Don’t Forget About Free Physicals
One of the most valuable pieces of advice on Medicare is to make sure that you take advantage of the benefits that it does have to offer.
This especially includes the free physical that you get when you sign up for Medicare Part B. During the first 12 months of your enrollment, you can use your “Welcome to Medicare” doctor’s appointment to get the care you need.
Remember that you’re also entitled to doctor’s appointments that relate to preventative care without any requirements when it comes to cost-sharing.
Always make it a point to get familiar with these benefits, and to take advantage of the plan you’re buying into.
5. Understand Prescription Drug Coverage
Earlier in this post, we spoke about the Medicare Part D plan, which generally relates to your prescription drug coverage.
Before you begin the process of looking for the best Part D plan for your needs, make a list of all the medications that you’re currently taking. This will help you to avoid running into a gap in the plan later on.
There are about 23 different Medicare Part D options, so you’ll have plenty to choose from. However, it’s important to understand that the medications covered by these Part D plans do change every year.
You’ll also see a shift in the premiums associated with these specific plans, along with the required co-pays.
So, what should you do to get the best possible Part D coverage for your needs?
You’ll need to shop around each year when the Medicare enrollment period opens. Don’t forget to account for any new medication prescribed to you during the past year.
We urge you to speak with a Medicare representative when choosing your Part D plan. Getting your medications covered is too important, and you can’t afford to make a mistake.
Use These Invaluable Pieces of Medicare Advice
We hope that this post has helped you to better understand the pieces of Medicare advice that you should consider when enrolling for your plan.
With so many different options out there (and so many changes on the horizon each year!) it’s important to start your research as early as you can. Always contact a representative or the Social Security Administration with any questions.
Looking for additional advice about health insurance? Want to know the preventative health care tips that you can take now to stay healthy and happy?
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