About Medicare Advantage. You can listen to this article:
If you are soon reaching the retirement age of 65, then it is about time you start preparing for your healthcare insurance options. Many people rely on their employers for healthcare insurance until it is finally time to retire. Without an active plan B to come for after retirement, you can find yourself in a compromising situation without healthcare insurance.
Hence, as the world is in 2022 now, open enrollment season might be perfect for getting your hands on Medicare Advantage. While certainly making this decision doesn’t come easy, and you have to reflect upon your options to reach a decision – it is important to familiarize yourself with the core elements involved in shopping for a Medicare Advantage coverage option.
Understanding the Elements
According to research published in Forbes, hospitals, physicians, and prescription drugs accounted for more than 60% of the US national health expenditure in 2019. This shows that while we may have relative options to consider, the key forces that impact Medicare Advantage plan coverage are the ones that should be prioritized. It only makes sense given how encapsulating the coverage supports you throughout the year.
6-Step Guide to Shopping For Medicare Advantage Coverage
Researching and understanding the elements that makeup Medicare Advantage coverage is essential to making a knowledgeable decision. However, only with real-life experience can you viably understand if the plan is tailored for your requirements or not. So whether you already are a beneficiary looking to explore other options or preparing to turn 65 with a robust health insurance coverage plan in place – here are the six steps to help your process.
Let’s give it a whirl, shall we?
1) Start from the Roots
Tracing back the roots of Medicare, you may land upon the Centers for Medicare and Medicaid Services. With a wide array of helpful resources available, the CMS is one of the best places to start your Medicare journey. The platform even mails a comprehensive Medicare guide every year before the enrollment period to the eligible seniors. Therefore, you will get help, support, and comprehensive guidance from a single platform if you refer to the CMS.
2) Move onto Web Resources
Just because CMS may be enough for you doesn’t mean you can’t explore other online resources. That’s like being present in an art museum and only choosing to look at a single painting. You may never know what the others have in store for you, greatly enhancing your overall experience with Medicare Advantage. Therefore, exploring websites like Medicare.gov is yet another online tool that helps you for free with available options.
3) Search by Element Important To You
As we established earlier, hospitals, physicians, and prescription drugs are the essential elements of Medicare Advantage coverage – you should conduct a specific search based on either of the three elements to make a final decision. Depending upon which of these elements matter the most to you, you can check out in-network options that rank at the top. For instance, you have an all-rounder hospital you can’t give up, choose a network that allows it.
4) Assess Your Utilization
Finalizing a Medicare Advantage plan or any Medicare plan isn’t child’s play. It requires thought and care because otherwise, there is a high chance you might end up stuck with the plan with no resources to change it for another. Hence, if you have narrowed down your plans to, let’s say, 10, then now is the time to assess its utilization. Think you will make the most of it? Go for it. If not, consider other options on the list.
5) Browse Additional Coverage Options
Dental, Vision and OTC are some of the additional coverage options that can make or break your decision for a Medicare plan. Hence, if you are still stuck on a few plans, use these options to help you reach a final decision. Naturally, at least one of these would be important to you, and having reliable insurance coverage makes the plan’s decision easier. Moreover, you can also place assumed future needs on the line.
6) Take Advice from a Medicare Professional
Being a Medicare professional is not an easy job and comes with challenges for the professional to overcome. However, knowledge and passion are driving forces that make it a success for the senior market. Therefore, you should connect with your Medicare provider if you are a Medicare beneficiary who requires health insurance advisory, attention, or coverage under Medicare.
For instance, our team members at United Insurance deal with utmost compassion and understanding with our clients. It is in our best practices to strike a balance between professionalism and emotion while remaining respectful to our clients throughout their Medicare journey with us. We strive to educate wisely and provide an excellent customer experience.
Our guiding principle is to serve the Senior Market at the highest level. We represent top-rated carriers and always work to bring our clients the very best rates. Our team pushes to exceed your expectations every day.
So, what are you waiting for? Contact us today to get started on your Medicare journey with us!