Did you know that there are 10,000 new participants that will enroll in Medicare each day? And that these numbers will likely continue to rise as baby boomers age into retirement? This is why if you are approaching Medicare eligibility, you must start thinking about it now, but where do you turn to get the facts you need, especially when it comes to considering if you should be supplementing Medicare or not?
Importance Of Supplemental plans
Medicare, which includes Part A (hospital) and Part B (medical insurance), will leave seniors with copays, coinsurance, and deductibles. This is why many will consider a supplemental medical insurance policy. A supplemental plan will not only help to defray costs, but it will especially do so when it comes to providing prescription drug coverage (Part D).
You have a variety of choices when it comes to supplemental plans, including: Preferred Provider Options (PPOs), Private Fee-for-Service Plans, and Health Maintenance Organizations (HMOs).
Also remember that if you have primary care physicians and specialists that you wish to continue to see, then you must choose a Medicare supplement plan that will cover those physicians. Be sure to consult with your insurance agent, who can help you choose appropriate coverage levels for a plan that covers these providers, as well as ensure your other needs are being met.
Have Your Needs Changed?
If after a time, you find your supplemental plan isn’t right for you, then all you have to do is simply change plans. For example, if your physician stops accepting Medicare and you find you may have to choose another physician, then you can change your plan to meet your specific needs. However, these changes can only be made during Medicare’s open enrollment period.
Ask Your Insurance Agent For Help
If you have made the decision to supplement your Medicare plan with additional medical insurance, then be sure to consult with your insurance agent right away. Your agent will better understand your personal situation, providing you with the right options for your specific needs.
For more information and to see if a supplemental insurance plan is right for you, contact Brazelton Insurance Group today!