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How To Choose A Medicare Plan

If you're grappling with the complexities of choosing a Medicare plan and find yourself on the verge of frustration, know that you're not alone. Many Medicare beneficiaries share the sentiment of initially considering themselves reasonably intelligent until attempting to decipher the intricacies of Medicare. But fear not – selecting a Medicare plan can be perplexing for many, and we are here to assist you.

Guidelines on Choosing a Medicare Plan Type

As you embark on your search for Medicare Supplemental insurance, it's essential to keep a few considerations in mind. Firstly, there are two types of Medicare plans, and it's crucial to comprehend the distinction between a Medicare Supplement and a Medicare Advantage plan, as they operate differently.

Once you grasp how each plan works, ask yourself the following questions to help narrow down the kind of plan that might best suit you:

Do your primary physicians participate in any Medicare Advantage plans, or do they exclusively accept Original Medicare?
What insurance is accepted by your preferred hospitals?
Do you frequently travel out of the area? If so, you might find Original Medicare with a Medicare Supplement to be suitable, as it allows you to use it for any doctor or hospital in the nation that accepts Medicare.
What is your risk tolerance? If facing a year of heavy health spending, do you have sufficient savings to cover the potential out-of-pocket maximum that a Medicare Advantage plan might require?
How about peace of mind? If you prefer lower premiums and paying for services as needed for better sleep at night, you might be a good candidate for a Medicare Advantage plan. Conversely, if you worry about unexpected expenses, a Medicare Supplement could provide peace of mind, knowing your medical spending regardless of your health.

Helpful Tips from Our Experts

At Insurance Now For You, we offer resources to assist you with these questions. You can sign up for our free webinars, where our agency co-founder covers the basics of Medicare in plain and simple terms. Additionally, we provide a handy guide for downloading, offering great tips on choosing a Medicare plan that fits your needs.

Once you've decided on the route that works best for you, you can proceed to obtain quotes from insurance companies.

Choosing a Medicare Supplement

Medicare Supplement plans were standardized by the government in 1990 for easier comparison. Our agency can provide a list of plans in your area, utilizing quoting software to show prices for all plans in every state.

Premiums for Medicare Supplements vary by gender, age, zip code, tobacco usage, and eligibility for household discounts. We identify the top 3 lowest-priced carriers for your chosen plan and compare their rate increases in recent years, using available data to make informed decisions.

Choosing a Medicare Advantage Plan

If you prefer Medicare Advantage, we use the www.medicare.gov website to find options. The Medicare Plan Finder Tool helps search for Medicare Advantage plans in your county based on your preferences. Some may prefer Medicare HMO plans for lower premiums, while others may opt for Medicare PPO plans for flexibility and out-of-network benefits.

Some counties offer other plan types like Medicare Cost plans, Special Needs Plans, and PFFS plans. Our agents are familiar with these options and can help you sift through the results to find a plan that your doctors participate in.

Get Someone on Your Side with Medicare

If you've been asking yourself, “Who can help me choose a Medicare plan?” look no further. Our agency can assist in identifying the right plan for you and determining the monthly premiums in your area.