About Medicare
5 Tips to Help You get The Most From Your Medicare Coverage
Do you enjoy searching the newspaper for coupons and senior savings at your favorite restaurant or movie theater? If so, you could call yourself a savvy shopper! Have you tried using your savvy shopping skills when shopping for a Medicare plan? The Medicare Annual Enrollment Period is a great opportunity to find the best value plan!
Here are 5 helpful tips to make sure you get the most out of your Medicare coverage:
1. Plan out your healthcare costs for the year.
Everyone has specific coverage needs, so healthcare costs will vary from person to person. When estimating your costs, be sure to include your insurance premiums, copays, coinsurance, deductible(s), and services or items you use throughout the year.
To help cover their out-of-pocket medical expenses, many people will purchase either a Medicare Supplement Plan or a Medicare Advantage Plan. Regardless of whether you choose a Medicare Advantage Plan or Medicare Supplement Plan, you will still be responsible for your Part B premium each month.
2. Understand your Medicare-covered preventive care benefits.
Preventive screenings such as mammograms and colonoscopies can help diagnose health issues early on and are covered by Medicare. Your annual Medicare Wellness Visit is a good time to plan for the year ahead. Although preventative care is usually covered at no cost to you, your doctor may recommend additional tests or services that have a separate copay or coinsurance.
3. Use Network Providers
Medicare Advantage Plans are network plans that work with contracted providers and facilities. Advantage plans may offer members out-of-network coverage, but typically this comes at a higher cost than if they were to use network providers.
Medicare Supplement Plans do not have a network; however, if you carry a plan that does not cover Medicare Part B Excess Charges, you could be responsible for balanced billing of up to 15% more than the Medicare allowable rate for services rendered by a provider that does not accept Medicare Assignment.
4. Take Advantage of Cost Saving Drug Benefits.
Lowering your drug costs could be as simple as having your prescription drugs delivered to your home instead of picking them up at a pharmacy. Switching to generic or low-cost drugs can also help you save. If your prescriptions have become too expensive, review your medications with your doctor and ask if there are any lower-cost alternatives that can work for you.
5. Look for extra plan discounts.
Your Medicare Advantage plan may offer additional discounts on things like hearing aids, dental care, over the counter items, vision services, or fitness programs. These programs could save you thousands of dollars a year if your plan offers them!
Don’t forget to use your savvy shopping skills when shopping for your Medicare coverage. AMAC’s Medicare advisors can help you find coverage to best fit your needs during the Annual Enrollment Period. AEP runs until December 7th – don’t wait!
For help with Medicare plans – or any questions you may have about Medicare – contact AMAC’s Medicare Advisory Service at 1-855-611-4856
