Heading into retirement brings a slew of new topics to grapple with, and one of the most maddening may be Medicare. Figuring out when to enroll in Medicare and which parts to enroll in can be daunting even for the savviest retirees. To help you wade into the waters of this complicated federal health insurance program for retirement-age Americans, here are 11 essential things you must know about Medicare.
A Medicare insurance broker can be extremely helpful for a new beneficiary, because they are an independent insurance agent who is licensed to sell Medicare plans on behalf of a number of different insurance companies. This means that they can help you compare plans from multiple insurance carriers so that you can more easily consider what each plan covers, how much it costs and how well it fits your needs.
Adding a Medigap supplement insurance policy to your Original Medicare coverage can help reduce your out-of-pocket costs, including deductibles and copays. Medigap policies are voluntary and have monthly premiums.
After the Medigap Open Enrollment Period, insurers can refuse to sell you a Medigap policy, delay coverage, or charge you a higher premium because of an existing health condition. The insurance company may also ask you to submit to a medical underwriting process and deny you coverage or charge you a higher rate based on its findings.
A cancer diagnosis can be scary, but if you have Medicare, most cancer treatment is generally covered. If you have additional protection with a Medicare Supplement Plan, your out-of-pocket costs could be very low, depending on the Medicare Supplement plan you choose. Read on to learn how Medicare pays for cancer treatment.
Medicare Supplement plans, also known as Medigap policies, are health insurance policies that limit the amount you’ll pay for medical services once you are on Medicare. But where do you begin?
Whether you retire at 65 or keep working, you’ll be eligible for Medicare. Which means, you’ll have new choices in health plans — maybe more options than ever. There’s a lot to think about. So, it’s smart to start planning by asking these important questions.
Make sure you are educated on all of your Medicare related options so you can make an informed decision. These FAQ’s are here to give you unbiased information regarding your Medicare related coverage choices.
If you’re using Medicare and haven’t yet reviewed your prescription drug coverage for next year, now’s the time to do it.
Medicare supplement plans don’t work like most health insurance plans. They don’t actually cover any health benefits. Instead, these plans cover the costs you’re responsible for with Original Medicare.