6 Reasons to Re-Evaluate Your Medicare Coverage

If you enrolled in Medicare on your 65th birthday and haven’t looked at your coverage since—you are not alone.

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If you enrolled in Medicare on your 65th birthday and haven’t looked at your coverage since—you are not alone. Most individuals enroll during their Initial Enrollment Period and never think about changing plans.

The truth is, you may be spending more money than necessary.

✔️ Have your prescriptions changed?

Maybe you are no longer taking the same dosages or even medications you were prescribed back in 2010. Or perhaps a few new medications have been added to your list.

Each year, you should receive a complimentary drug analysis to make sure you enrolled in the most cost- effective prescription drug plan, also known as Part D.

✔️ Has your current health status changed?

You may have enrolled in the most comprehensive plan available because it was affordable at the time, however, premiums increase with age and now that you’ve been enrolled a few years it may be more cost-effective to make the switch. You could save thousands of dollars each year by switching plans.

If your current health status has changed or you simply find yourself calling the doctor more, it’s time re-evaluate your coverage.

✔️ Have you moved?

Medicare Advantage plans operate on state specific networks (like an HMO). If you move, you may need to purchase a new Medicare Advantage plan.

If you are enrolled in a Medicare Supplement plan, check to see if you have the Standard or Select network. The Standard networks gives you access ALL hospitals, nationwide.

Not sure what your current benefits include? Have your plan looked at more closely by a Licensed Medicare Consultant.

✔️ Needing Home Health Services?

Home Health Services include part-time skilled nursing care, physical therapy and occupational therapy. Medicare does not pay for 24-hour at home care. Private insurance carriers that offer Medicare Advantage plans are limited on what they can approve.

If you are in need of any home care services, Medicare Supplement plans have more coverage options.

✔️ Thinking about getting Hearing Aids?

Medicare does not cover hearing aids or exams for fitting hearing aids. Purchasing hearing aids on your own could cost thousands of dollars.

Some Medicare Advantage Plans offer extra benefits that Original Medicare doesn’t cover – such as vision, hearing, or dental.

For individuals enrolled in Medicare Supplement plans, you may need to purchase a standalone hearing benefit. Check your plan summary for details. We are here to help you go over your current coverage and explore alternative options.

✔️ Considering a plan change?

Home Health Services include part-time skilled nursing care, physical therapy and occupational therapy

Medicare does not pay for 24-hour at home care. Private insurance carriers that offer Medicare Advantage plans are limited on what they can approve.

If you are in need of any home care services, Medicare Supplement plans have more coverage options.

If you are over the age of 70 and enrolled in Medicare Supplement Plan F, you could be missing out on thousands of dollars in savings. Changing to a High Deductible Plan G now will save you hundreds of dollars even if you reach your deductible.

If you answered yes to one any of these questions, it’s time to re-evaluate your coverage.

 

We are here to help you go over your current coverage and explore alternative options.

Talk to a Licensed Medicare Consultant today at (773) 985-6500