One of the advantages of turning 65 is the ability to use Medicare for health coverage. However, the number of options and choices in plans and providers can make it very difficult to determine which Medicare plan is the right option.
At The Turning 65 Advisor, we offer a free consultation to help those eligible or those who are planning in advance of turning 65 to narrow down the options in Medicare plans. Too often, people choose the wrong plan, which may leave them without necessary coverage or services to manage health issues.
What to Know
To determine the ideal Medicare plan, consider your current health issues and needs and any potential health issues. For example, a family history of specific health issues should always be considered when determining likely or possible coverage needs in the future.
Each plan or option will have different costs. This includes various deductibles, coinsurance requirements, and copayments. For most Medicare plans, copayment is only applicable to prescription medications.
In addition, it is important to know what each type of Medicare plan covers. The following is a basic explanation of the different options:
- Medicare Part A – covers hospitalization, treatment in a skilled nursing facility, home healthcare services, and hospice care. This does not include any long-term care requirements.
- Medicare Part B – covers preventative and necessary medical services. This also includes ambulance, mental health services, medical equipment, and some prescriptions.
- Medicare Part C (Medicare Advantage) – includes coverage from A and B plus additional services such as vision, dental, and prescription medications.
- Medicare Part D – prescription medications
In addition, people may be eligible for Medigap coverage. To find out more, call us today at 623-777-3315 for a free consultation.