Optimizing Your Medicare Coverage
As you approach your 65th birthday, you’ll start receiving information about Medicare, explaining the importance of enrolling. You’ll need to make a key decision: choose between Traditional (Original) Medicare or Medicare Advantage.
Traditional (Original) Medicare
With Traditional Medicare, you can see any provider nationwide that accepts Medicare, without needing prior authorizations. To get full coverage, you’ll also need a Medigap (Supplemental) Plan for co-pays and deductibles, and a separate prescription drug plan (Part D). Medicare plans change yearly, so it’s important to review your coverage regularly.
Medicare Advantage
Medicare Advantage plans, managed by private insurers, often have lower premiums but may include higher cost-sharing for hospital stays or nursing care. These plans may require prior authorizations and have network restrictions, but they do cap your out-of-pocket costs.
Annual Medicare Review
Every year, review your plan to ensure your doctors and medications are still covered, and check for any changes in costs. Take advantage of free counseling services from Area Agencies on Aging (AAA) to help you navigate Medicare Open Enrollment each October and choose the best plan for your needs.
When you find yourself overwhelmed, it can be challenging to determine where to begin. The key is to focus on doing what really matters most. To help you get started, we have broken down the process of reaching out to us and then completing your legal work into manageable steps, providing guidance every step of the way.
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