10 Medicare Tips I Swear By
Here are ten essential tips for Medicare beneficiaries to help them navigate their coverage effectively and make the most of their benefits:
Work With An Independent Broker
These licensed sales agents are generally not tied to any one specific plan or provider that they need to push. Instead, they can offer plans from numerous providers to guide you in making the right choice for your healthcare needs. You get a more personalized service, offered in person. Someone you can reach out, throughout the year, from the area you live in that understands the networks and hospital affiliates of the area.
2. Understanding Your Coverage
Familiarize yourself with the different parts of Medicare—Part A (hospital insurance), Part B (medical insurance), Part C (Medicare Advantage), and Part D (prescription drug coverage). Knowing what each part covers will help you make informed decisions about your healthcare.
3. Review and Compare Plans Annually
Medicare plans can change from year to year, so it’s crucial to review your coverage annually during the Open Enrollment Period (October 15 to December 7). Compare plans to ensure you're getting the best coverage and value for your needs.
4. Check Drug Formularies
If you have prescription medications, make sure your Part D plan or Medicare Advantage plan covers them. Formularies (lists of covered drugs) can vary between plans, so confirm that your medications are included. If you have an Advantage plan your prescription drugs are included.
5. Understand Your Costs
Be aware of the costs associated with your Medicare plan, including premiums, deductibles, copayments, and out-of-pocket maximums. Knowing these costs helps you budget and avoid unexpected expenses.
6. Use Preventative Services
Medicare covers a range of preventive services at no cost to you, such as screenings for cancer, diabetes, and heart disease. Take advantage of these services to catch potential health issues early.
7. Stay Informed About Deadlines
Be mindful of important deadlines, such as the Initial Enrollment Period (when you first become eligible for Medicare), the Annual Enrollment Period (for changing plans), and Special Enrollment Periods (for qualifying life events).
8. Seek Help If Needed
Don’t hesitate to reach out for assistance if you have questions or need help navigating your Medicare coverage. You can contact Medicare directly, consult with a Medicare counselor, or seek advice from a knowledgeable Medicare broker.
9. Use Your Medicare Benefits Wisely
Familiarize yourself with what’s covered under your plan and use those benefits effectively. For example, make sure to schedule and attend regular check-ups and screenings that are covered by Medicare.
10. Keep Track of Your Health Records
Maintain an organized record of your medical history, prescriptions, and any Medicare-related documents. This can help you keep track of your care and ensure that your plan covers everything it should.
I am someone that could be a great resource not only for yourself, but everyone in your family who is on Medicare, or will be in the next year or so. Many of you have met with me before and know that I am someone who is an advocate for you.
If you ever receive a bill you don’t agree with, you know to call me. If you ever need a referral and it is declined, you know to call me. If you are going through a difficult time financially, you know to call me. I look forward to working with you for many years to come.
September 14, 2024