Make the Most of Medicare by Knowing Your Options

By Tricia of Allsup

President Lyndon Johnson created Medicare in 1965 because it was nearly impossible for the elderly to find private health insurance coverage. The massive program was a boon to seniors, but it’s a pretty good bet that even LBJ didn’t foresee the day that the number of Medicare beneficiaries some 50 years later would be more than 55 million Americans.

Unfortunately, Medicare, like most federal programs, is extremely difficult to navigate and fully understand. There are dozens of options just in your area, including Medigap supplements, Medicare Advantage, and Part D prescription drug plans. Make no mistake, not knowing the ins and outs of Medicare and the various available plan options can cost you thousands of extra dollars each year. Here are just a few questions to ask yourself:

• Do I have the best plan to fit my personal needs?
• Will my prescriptions be affordable on this plan?
• Should I use my retiree coverage from my previous employer, or is Medicare a better option?
• What is my plan’s out-of-pocket costs and portability?

Medicare plan prices and availability change every year, and so may your healthcare needs.  If you haven’t reviewed your plan lately, it’s probably time to do so. It doesn’t matter if you’re enrolling in Medicare for the first time or reviewing your current plan, you’ll probably need assistance to fully understand your options so you can choose the best plan for you.

The Allsup Medicare Advisor (AMA) can help you do just that. Allsup experts will:

• Assess your specific needs, including healthcare requirements, doctors, prescriptions and budget.
• Identify available plans that most fit your specific needs.
• Help you understand complex Medicare issues, such as the donut hole and coordinating benefits while still working.
• Prepare a customized report of plan options comparing premiums, deductibles, co-pays and coverage limits.

The AMA can simplify your Medicare plan selection process and help you make an informed decision. Click here to complete a short form to help us understand your Medicare needs, or call us today at (866) 521-7655.