Every plan claims to offer the best health insurance for seniors, but what’s the best health insurance for you? Senior Health Insurance today is very individualized and what may be best for your friend may not be a good fit for you. Therefore, it’s important to know what your options are before making a decision based on someone else’s insurance choices.
You are beginning to explore original Medicare, Medicare Advantage and Medigap plans, and you have so many questions. What does each coverage option offer?
Do You Want an All-In-One Plan?
Medicare Advantage may be good if you’re looking for more coverage that isn’t found in original Medicare. Many Medicare Advantage plans offer dental, vision and hearing coverage. Most Medicare Advantage plans also cover prescription drugs. You won’t have to worry about going over your household’s annual healthcare budget – once you hit the maximum spending cap, you no longer have to pay for any additional expenses.
The tradeoff is that Medicare Advantage plans are sponsored by private companies, and the cost structure may change from year to year. Also, there are stricter limitations on referrals and which doctors and specialists you are allowed to visit.
Do You Want Assistance with Out-of-Pocket Expenses?
If you have to pay for your doctor visits, hospitalizations and emergencies while traveling abroad, and those bills can quickly add up. Medigap, a type of supplemental plan sold by private companies, covers a large portion of those out-of-pocket expenses that may not be covered by a Medicare Advantage plan. With Medigap plans you pay a fixed premium and stop worrying – depending on what plan you select, you could have more coverage if the costs start adding up.
How Can You Find a Quality Plan?
Even though Medicare Advantage plans are offered by private insurance companies, the federal government rates each plan on a scale of one to five, with the higher ranked ones boasting the best satisfaction ratings, exceptional care and maximum accessibility.
Medigap plans are grouped into 10 different categories, each denoted with a letter. Once you’ve narrowed down whether you want the services in plan A, B, C, D, F, G, K, L, M or N, you can just search for the best price, company reputation, annual rate increases, since every plan in each group covers the same services.
Why Work with Insurance Specialists?
Deciding on the best health insurance fit for you can be challenging because there are so many options available. Your choice depends on a number of personal factors. Working with an experienced insurance specialist can help you take stock your unique health status and your financial standing, then make the decision to enroll with the plan that meets the majority of your needs.
As you get older, you know you want the best health insurance for you because the services provided and the costs covered can directly improve your quality of life. My Senior Health Plan can help you with this important decision – call today for a free consultation.