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Tips to Consider When Choosing Your Medicare Plan
Author David Schneider | Nov 14,2007
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Purchasing a Medicare plan could potentially save you thousands of dollars each year in medical expenses. However, with a variety of Medicare plans to choose from, you may be lost as to how to begin picking the right plan for you. By taking the time to review a variety of different plans and knowing what to look for, you can ensure the Medicare plan you ultimately select will be the most beneficial for your needs.
Shop Around for Medicare Options
Like any major purchasing decision, it's important to shop around before you settle on a particular Medicare plan. You wouldn't buy the first car or house you see for sale and you shouldn't purchase the first Medicare plan you see either.
To compare a variety of different Medicare plans, you'll want to review the coverages, costs and procedures of each one. This information can be found in what is called the summary of benefits. The summary of benefits can usually be viewed on the health company's Web site or in a printed brochure. You will also want to compare premiums and deductibles to make sure the Medicare plan you choose fits your budget.
Check to See if the Medicare Plan Covers Your Doctors
You likely already have doctors, hospitals and/or other healthcare professionals you'd like to continue using with your Medicare managed care plan. Due to this, it's important to note that not all Medicare plans cover all doctors and health centers. Therefore, you'll want to check any plan you are interested in to ensure your current healthcare providers are in-network. If they are not, then you will have to search out new doctors -- something that many people simply are not willing to do.
Understanding Medicare and Referrals
Many people are unhappy to learn that a Medicare plan requires you to obtain referrals from your primary physician if you would like to see a specialist. If this is a concern for you, then you will probably want to look into the referral process of each Medicare plan you are comparing. The difficulty of receiving a referral can vary from plan to plan, so you might want to select one with a relatively easy referral process.
Prescriptions and Medicare Part D
The Medicare Part D prescription drug program is a relatively new addition to Medicare and should factor considerably into your selection process. Many Medicare managed plans have chosen to accept the Plan D standards and offer drug coverage, while others have opted to drop their drug coverage entirely. If you regularly take prescription drugs, then it will be most beneficial for you to enroll in a Medicare plan that includes Plan D coverage.
You will also want to check the plans you are interested in to ensure the particular prescription drugs you take are covered. Not all prescriptions are covered by each Medicare plan and costs can vary as well. Do the research and tally up your expected prescription drug expenses to find the best Part D program for your needs.
Other Medicare Tips
It's not uncommon for Medicare providers to deny coverage for procedures they believe to be unnecessary or experimental. If you foresee the need for a specific treatment, check to see if is covered by the prospective Medicare plan. If not, you may want to look elsewhere.
You should also check each Medicare plan for additional coverages. Beyond basic care, such benefits as chiropractic care, preventative care, medical equipment, eye examinations and short-term custodial care are often covered as well. If any of these specialized coverages are important to you, then you may want to find a Medicare plan that includes the extras you need.
Purchasing a Medicare plan could potentially save you thousands of dollars each year in medical expenses. However, with a variety of Medicare plans to choose from, you may be lost as to how to begin picking the right plan for you. By taking the time to review a variety of different plans and knowing what to look for, you can ensure the Medicare plan you ultimately select will be the most beneficial for your needs.
Shop Around for Medicare Options
Like any major purchasing decision, it's important to shop around before you settle on a particular Medicare plan. You wouldn't buy the first car or house you see for sale and you shouldn't purchase the first Medicare plan you see either.
To compare a variety of different Medicare plans, you'll want to review the coverages, costs and procedures of each one. This information can be found in what is called the summary of benefits. The summary of benefits can usually be viewed on the health company's Web site or in a printed brochure. You will also want to compare premiums and deductibles to make sure the Medicare plan you choose fits your budget.
Check to See if the Medicare Plan Covers Your Doctors
You likely already have doctors, hospitals and/or other healthcare professionals you'd like to continue using with your Medicare managed care plan. Due to this, it's important to note that not all Medicare plans cover all doctors and health centers. Therefore, you'll want to check any plan you are interested in to ensure your current healthcare providers are in-network. If they are not, then you will have to search out new doctors -- something that many people simply are not willing to do.
Understanding Medicare and Referrals
Many people are unhappy to learn that a Medicare plan requires you to obtain referrals from your primary physician if you would like to see a specialist. If this is a concern for you, then you will probably want to look into the referral process of each Medicare plan you are comparing. The difficulty of receiving a referral can vary from plan to plan, so you might want to select one with a relatively easy referral process.
Prescriptions and Medicare Part D
The Medicare Part D prescription drug program is a relatively new addition to Medicare and should factor considerably into your selection process. Many Medicare managed plans have chosen to accept the Plan D standards and offer drug coverage, while others have opted to drop their drug coverage entirely. If you regularly take prescription drugs, then it will be most beneficial for you to enroll in a Medicare plan that includes Plan D coverage.
You will also want to check the plans you are interested in to ensure the particular prescription drugs you take are covered. Not all prescriptions are covered by each Medicare plan and costs can vary as well. Do the research and tally up your expected prescription drug expenses to find the best Part D program for your needs.
Other Medicare Tips
It's not uncommon for Medicare providers to deny coverage for procedures they believe to be unnecessary or experimental. If you foresee the need for a specific treatment, check to see if is covered by the prospective Medicare plan. If not, you may want to look elsewhere.
You should also check each Medicare plan for additional coverages. Beyond basic care, such benefits as chiropractic care, preventative care, medical equipment, eye examinations and short-term custodial care are often covered as well. If any of these specialized coverages are important to you, then you may want to find a Medicare plan that includes the extras you need. |
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