A surprising amount people believe that Medicare is free and will cover all of your health care costs once you retire, but estimates indicate that in general Medicare only covers about half of health costs. So, how can you effectively manage your health care dollars in retirement? One of the best ways is by selecting the right health plan for your unique needs.
Picking the insurance plan that fits your needs and budget is important and can be the difference between having affordable coverage when you need it or having expensive medical bills that must be paid out of pocket. On top of all the options, Medicare enrollees also have to deal with the plan changes that occur from year to year. Insurance companies use the open enrollment period to make any needed changes to their plan offerings, which they communicate to plan members through a document called the “Annual Notice of Change.” It is very important that you review this document when you receive it in the mail so that you know what changes are coming to your plan’s costs and/or benefits and can plan accordingly.
Reasons to consider other Medicare plans for 2020
- You are unhappy with your current plan
- Your health needs have changed
- Your financial situation has changed
- You are enrolled in a Medicare Supplemental plan and your premium has become costly
If you know of someone who needs assistance, whether it be clinical, financial, or social in nature, please contact us at 877-881-1623.
