Picking the right Medicare plan for you as a senior can be a challenge. While there are plenty of rankings, satisfaction scores, and recommendations out there, these can only give you the broadest hints on whether a plan is right for you as a specific individual. To begin the decision-making process, here are some of the most important factors in picking a plan.
Do You Have Medical Coverage Currently?
If you’re happy with your current medical insurance, you may prefer to retain this instead of switching to Medicare. It’s still worth comparing the costs and benefits of your existing plan with Medicare alternatives — you might be able to save money and enjoy benefits that are not included in your existing plan.
How Often Do You Require Medical Attention?
If you’re in good health and only see the doctor for your scheduled checkups, it’s fine to hold off on switching from your current plan to Medicare. This will also factor into which Medicare plan is most appropriate for you, as some plans may contain coverage that you don’t need right now. Keep in mind, however, that nobody enjoys good health forever and accidents can occur at any time in life. Make sure that you have appropriate medical coverage if something unexpected should occur.
How Much Can You Afford to Pay?
Take a detailed look at your budget and think about how much you can realistically pay each month. Costs for coverage and prescriptions can vary significantly across different plans.
Is Having a Choice of Healthcare Providers Important to You?
Some plans may offer lower costs, but the downside is that you’re restricted to specific providers. Continue reading on the next page and find out, among other things, what other important factors go into finding the right medicare plan.