5 Steps That Can Help Choose a Medicare Plan

Although choosing the best Medicare plan can be a complicated process. There is a process that you can follow, and when you get an expert in Medicare plans to help you understand best. Many people that are shifting from an employer covered health insurance, private insurance to Medicare they find it a daunting task. As they have to understand what Medicare advantage plans 2021, Part B, Part D, and Medigap mean and if it suits them. Also, the decision that you make will affect your out-of-pocket costs and health care for a long time. However, with careful consideration and research, you can get a Medicare plan that suits you. Below are steps that will help you choose a Medicare plan. 

1-Consider your timing

This is the first step to choosing your Medicare plan. Checking your timing is important to help you enroll during the initial enrollment period. If you are late to enroll, and you do not get to apply for a special enrollment period, that is mostly associated with unplanned events like losing a job. You are responsible for lapses in coverage and late penalties. Notably, individuals that are working and are past 65 or at 65 are those who make the most mistakes with enrollment. However, those who are enrolled can consider adding coverage or switching plans during the annual enrollment period. 

2-Learn the options available for you 

Since there are two types of Medicare, the Original Medicare, and Medicare advantage. The government provides the Original Medicare. It has part A that is hospital insurance and Part B that is medical insurance, which is the fee for service plans. If you want prescription drug coverage with this option, you then have to sign up for Medicare part D and with an additional premium. Plus, you can choose Medigap policies, which are supplemental policies that offer benefits not covered in part A and parts B, like dental care and vision. As for Medicare advantage, private insurance companies offer this plan but contracting Medicare. They are set up, as a PPO, HMO, fee-for-service, or any other type of plan. They also include prescription drug coverage and may or may not offer dental, vision, and other services. 

3-Check closely at the prescription drug coverage 

As you research the plans that you want, it is vital to have the current medications handy. This will help so that when you contact your agent, you have all medication dosages and names. Yearly, plans change on what drugs will fall in which payment tiers and also the pharmacies they will work with to give you the best prices. So it is best to check the plans formulary in case there are some changes. Additionally, if you do not have time to review the prescription drug coverage, it will end up costing you a lot of thousands of dollars. 

4-Choose your plan

If you are new to Medicare, you need to choose whether you want Original Medicare or an Advantage plan. Plus, you need to understand them as they are different, and each has pros and cons for you to consider. Other than the monthly premium as the main factor as you choose your plan. There are other factors to consider, like coverage, if it is for all your physicians required services and medications. If there are costs that you will incur, the out of pockets costs like deductibles and copays. Also, consider the quality, this is in terms of fairness of appeals, customer service, and other vital factors. So consider getting an expert in Medicare to understand these differences. 


The last step and also an important step is to enroll. Decide who you find best to work with, either the insurance company direct or an insurance agent. Also, the premiums are set by the insurance companies and so they differ. Thus, if you choose a Medigap plan, Medicare Advantage, or Medicare itself, if it’s the original Medicare. Additionally, the premiums of original Medicare are the same regardless of who guides you. However, if it’s other plans, they differ depending on the state they are doing business in, and so you need to consider this as well as you choose a plan. 

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