Medicare Planning – Part 2

Medicare Planning – Part 2

The new Medicare and You 2012 brochures have been presented and those eligible for Medicare receive daily correspondence from insurers about their products. This booklet contains more than 150 pages of details about Medicare and plans related to Medigap and Medicare Advantage. These are some of the main things to consider when choosing coverage for 2020 so visit

Medicare Parts A and B provide adequate and basic hospital and medical coverage. There are no additional insurance requirements. Many people are satisfied with Medicare A and B only and without additional coverage.If you are newly qualified for Medicare, contact Social Security and discuss your enrollment options. Medicare coverage is very important financially.

Each person’s health situation is unique, so no plan or option “serves everyone.” Choosing or declining additional coverage beyond Medicare depends on your age, health, doctors, prescriptions, budget, etc. of each person A couple can have two very different health plans because their needs dictate.Insurers sell Medigap and Medicare Advantage plans. By this I mean that an individual cannot simply buy one on the Internet without discussing with a representative. This is valuable for the consumer because there are many important factors to consider.

Insurers are holding seminars to discuss what their products cover and how much they cost. If you have any questions about what you need, attend one or more of these seminars and get the benefit of a large group discussion with others who may have the same questions as you.Take a friend or relative with you, someone familiar with your financial and/or health situation. Two heads are better than one. Do not delay or assume that your current coverage is best for you. As we age, we are less likely to run the risk of a change, even though it may be substantial financial savings. Inertia is the easiest, but not necessarily the best, way out.

A few years ago, when I no longer had coverage through my employer, a friend suggested a Medicare Advantage Plan, something I had never heard of. They said they were not paying premiums and that they had very good coverage. I didn’t believe them, assuming they didn’t tell me the whole story. My wife and I and several good friends met with the plan representative and was convinced that this plan was better for me. For several personal and health reasons, it was not the best for others, but I switched to the Medicare Advantage Plan and I am still covered by the same company under a similar plan, paid $ 0.00 in premiums and saved hundreds of dollars this years.