How to Find the Best Medicare Plan for You
A Cure for Medicare Malaise: What to Know Before Turning 65
You’re about to hit that important milestone birthday: the eligible age for Medicare. That means you’ll need to do your homework to understand the ins and outs of the national health insurance program to ensure you’re choosing the right coverage for your needs. To help you get started, we’ve compiled a high-level overview of what you’ll need to keep in mind when choosing the best Medicare plan for you.
The 4 Parts of Medicare and Who They’re Best Suited For
- Medicare Part A provides you inpatient care, including hospital care, skilled nursing, hospice, and some home health care. More often than not, beneficiaries don’t pay a premium for this part, since it is free when you or your spouse have at least 10 years of Social Security work history.
- Medicare Part B is for medically necessary outpatient services. This includes preventative care, doctor visits, outpatient care, and some home health care.
- Medicare Part C is also known as the Medicare Advantage plan, which is offered through private companies working directly with Medicare to provide all Part A and B benefits.
- Medicare Part D covers prescription medications.
What Medicare Plan Is Best for You?
Al beneficiaries are eligible to receive Parts A and B through the Original Medicare plan. It is important to note that while you can select any doctor or hospital with Original Medicare, however, there is no set maximum on out-of-pocket costs.
Medicare Advantage, on the other hand, offers everything that you receive from Original Medicare plus additional services. Medicare Advantage is offered by private insurance companies that offer you coverage through a fixed network of doctors and hospitals. “About one-third of Medicare beneficiaries – 20.4 million people – are expected to choose Medicare Advantage,” according to U.S. News & World Report.
If you have greater needs or are required to see top specialists, it is encouraged to pursue a Medicare Advantage plan through private insurers. Your network will not be as large and premiums will be higher, but there is a set limit on out-of-pocket costs, potentially mitigating your healthcare expenses.
Once you evaluate your needs, the next step is to fill out your application. You can sign up and learn more about the process through the Medicare website.
Get the Most out of Your Medicare Health Plan Coverage at Springpoint Senior Living
Choosing healthcare coverage can be a daunting task – but there are many people willing to help you navigate the options and find the best plan for you. Once that plan is chosen, get the most out of your coverage by choosing Springpoint Senior Living for your current, or future, healthcare needs. Several Springpoint communities are part of their local Accountable Care Organizations based on specific criteria, including quality of care, operations, leadership, and cost-effective care. Contact us today to see how you can take advantage of Springpoint’s tradition of excellence in senior healthcare.
Unless otherwise noted, information is taken from the Centers for Medicare and Medicaid Services and Medicare.gov.
