An individual looking for Medicare health insurance can get one by choosing one of the two options provided by Medicare. You can either get an Original Medicare (Part A or Part B) or opt for a Medicare Advantage Plan (Part C), to get the desired insurance. Depending on your needs, you can also buy add-on coverage plans like Medicare prescription drug coverage or Medicare Supplement Insurance (Medigap) to provide you with extra security.
It can be tough to decide on which plan to finally enroll in. You can read further to help you with steps you can take to buy the perfect Medicare insurance plan.
Steps to choose the right Insurance plan
First, choose the main plan that fits your budget.
For Original Medicare Plan
According to the reports of 2018, a standard Part B Medicare Plan requires you to about $134 per month on an average. This amount may go up or decrease based on your income and f you are a receiver of Social Security benefits.
For Medicare Advantage Plan
In 2018, the typical Part B plan has the premium amount of $134 which is again subjected to fluctuations depending on your income and Social Security benefits status. In this plan, however, you pay the premium on a monthly basis.
Some plans may require you to pay for co-payments or coinsurances for services being covered. Some plans may also provide with vision, hearing and dental coverage. These plans normally have an out of pocket limit after exhausting which, you won’t need to pay for insured services for the remaining year.
Due to this, these plans may be more budgets friendly or you.
Identify if you have a need or prescription drug coverage
If you by an Original Medicare
You don’t get prescription drug coverage in Original Medicare. So, if you have a requirement for the said plan then you can enroll in one separately. Medicare Prescription Plans are provided by Medicare-approved private companies and usually have a monthly premium plan.
If you buy a Medicare Advantage Plan
For people who have chosen a Medicare Advantage plan, prescription drug coverage is provided to them in the most number of these plans. This means you don’t need to buy a separate plan for to cover your prescription drugs.
Identify your need for a supplemental plan and enroll in one at https://www.bestmedicaresupplementplans2019.com/
If you have an Original Medicare
Since Original Medicare doesn’t cover co-payments, coinsurance, and deductibles, you can choose to buy an additional plan to help you pay for these costs. Medicare Supplemental Plan is provided by many Medicare-approved private companies that pay for thongs that are not covered by an Original Medicare.
If you have a Medicare Advantage Plan
You cannot buy a Medicare Supplemental Plan if you have a Medicare Advantage Plan. However, since the cost sharing is comparatively less in these plans, you can manage without a Medicare Supplement Plan.
You can consider all the points and choose a Medicare plan that best suits your needs.