| According to studies, 10,000 new participants enroll in Medicare each day. And as baby boomers age into retirement, this groundswell will continue.
It’s likely that as we age, we’ll eventually need care for chronic and costly medical conditions. If you’re approaching Medicare eligibility, you should start thinking about it now. There’s information out there, but it can get confusing. So where do you turn to get the facts you need?
Supplemental plans: Because Medicare, which includes Part A (hospital) and Part B (medical insurance), leaves seniors with copays, coinsurance, and deductibles, always consider a supplemental medical insurance policy. A supplemental plan will help defray costs, and most provide prescription drug coverage (Part D). You have many choices of supplemental plans, such as Preferred Provider Options (PPOs), Private Fee-for-Service Plans, and Health Maintenance Organizations (HMOs).
Seniors usually have long-standing relationships with primary care physicians and specialists. To continue to see your current providers, you must choose a Medicare supplement plan that covers your physicians. That’s why you should turn to your insurance agent, who can help you choose appropriate coverage levels for a plan that covers these providers…and meets your other needs.
Changing needs: If after a time you find your supplemental plan isn’t right for you, you can change plans. For example, if your physician retires or stops accepting Medicare, you may have to choose another physician.
Generally you can make changes only during Medicare’s open enrollment period (for 2017, the open enrollment period is from November 1, 2016, to January 31, 2017).
Your agent can help: If you’ve chosen your supplemental medical insurance plan with your agent’s help, he or she will be up to speed on your personal situation and provide options should you have to change plans.
But ensure you start planning soon. November is just a few months away, and things get busy in the fall. |
