Choosing between all the Medicare plan choices can be confusing. There are so many variables involved, and while you want to get the right plan for you, you don’t want to shortchange your medical care. We’ve taken two fictitious stories and examined the decisions these people might make based on their circumstances.
Mary has just become eligible for Medicare. She takes good care of her health; she swims at the community pool three times a week and walks her dog every day. Mary takes simvastatin for her high cholesterol, which she gets from her local pharmacy, but she doesn’t take any other prescription drugs. Mary has five children which she frequently travels to see. What Medicare plan works best for Mary?
Since Mary travels so much, she needs a plan that allows her to see any doctor, hospital or provider that accepts Medicare, so the option that fits her life best is Original Medicare with a Medicare Supplement Insurance plan. Original Medicare includes Part A (hospital insurance) and Part B (medical insurance) and having a Medicare Supplement Insurance plan will help fill the gaps that Original Medicare doesn’t cover. Mary will also want to purchase a Medicare Part D plan which would cover the cost of prescription medications.
James has just turned eighty and has been diagnosed with vascular dementia. He lives at home with his daughter, who provides for much of his care. He has a daily regimen of several vitamins and prescription drugs. He is also recovering from a broken hip so he spends much of his time in bed watching the Game Show Network. What Medicare plan might be best for James?
James should look at Medicare Advantage plans, also known as Medicare Part C, since he doesn’t need to worry about seeing out-of-network doctors and is happy with his primary care physician. A Medicare Advantage plan includes Medicare Part A, Part B and, depending on the plan he chooses, most plans include prescription drug coverage. He will continue to pay his Part B premium in addition to his Medicare Advantage premium, if there is one. However this is a good choice to help him manage his expenses.
Are you like Mary or James? Or it’s more likely that your situation is completely unique, so you may need to do a lot of research to find the right plan that fits your needs and budget. HealthMarkets Insurance Agency is here to make it easy for you. We do the research, all at no cost to you, and come up with a plan that fits your needs and budget. Health insurance is hard. HealthMarkets makes it easy.