One important Medicare fact that could save you money is that you shouldn’t choose coverage based only on the monthly premium. A Medicare Advantage plan with a low or even $0 additional monthly plan premium can still have copayments, coinsurance, prescription drug costs, and other out-of-pocket expenses, and beneficiaries generally must continue paying their Medicare Part B premium. When comparing Medicare coverage options, consider your total potential healthcare costs along with your doctors, prescriptions, provider networks, and benefits. Learning Medicare Basics Made Simple, understanding what Medicare Part A actually covers, and knowing what Medicare Part B actually covers can help you make a more informed Medicare decision.
The Medicare option with the lowest premium isn’t necessarily the option that will cost you the least overall, because everyone’s healthcare needs are different. Compare Original Medicare and Medicare Advantage, potential out-of-pocket expenses, prescription coverage, and options such as Medicare Supplement Insurance (Medigap) and Medicare Part D prescription drug coverage before making your decision. Looking at the complete picture—not just one price—can help you choose coverage that better fits your healthcare needs and budget. Want help comparing your Medicare options? Call Shields & Associates Insurance Agency at 402-545-8954 to speak with a licensed insurance agent and review Medicare coverage options available to you.