Must-Know Facts About Medicare
What do you know about Medicare
Discover different options available in the U.S. under Medicare plans (Picture source: Flickr.com)
If you are approaching retirement age or are just about to sign up to a Medicare plan, there are several things
you should know before doing do. Let's take a look at some facts that might change your ideas.
Many people have the nice idea that once you have done your bit for your country you can get a break from your
healthcare insurance. That just isn't true. Medicare covers less than two-thirds of the costs of the average
senior's healthcare costs. If you have expensive medical treatment, you are still going to have to dig deep to fund
it. Signing up to a basic Medicare plan isn't going to protect you from those costs. Instead, you might want to
consider a Medicare Advantage program or another private health insurance
90% of people pay too
Medicare is so complex that most people are paying too much for their plans. In fact, over nine out of ten people could
save money by switching. That's an astonishing amount of money that is being wasted by the average household. If
you are struggling to get to grips with all the different plans, you could benefit by talking to a health
It doesn't cover
There are a lot of conditions that affect elderly people that get worse with age, and require routine checkups.
Unfortunately, Medicare doesn't cover all of them. Any dental care, visits to the opticians and use of hearing aid will have to be covered by you or another health insurance plan. Also,
if you need to receive assisted living care or move into a nursing home, you won't receive cover from your
You will find that Medicate plan doesn't cover certain expenses, such as dental, hearing aid use
and visits to the opticians.
You could pay less with a
A Medicare PPO plan is something that is offered by a private insurance company. It is a type of Medicare
Advantage Part C plan and uses a network of doctors, hospitals and healthcare facilities. Take a look at the
Anthem Medicare Preferred plan to see the sort of thing to expect. It is important to
note that if you use a different provider to those in the network, you will pay more. Therefore, it is essential
that you do a thorough check of the preferred providers in your area. If they are limited, then it probably
isn't your best option.
It pays to be
You can sign up to a Medicare plan up to three months before you turn 65. It is advised that you do this as soon
as possible. If you leave it more than three months after your 65th birthday, you will have to pay higher premiums
because you are late. It's worth bearing in mind that these are permanent! Therefore, no matter how hard it is to
wade through the Medicare paperwork, you have to put aside the time to do it before this period runs out.
Do you have any more tips about Medicare plans? We would love to hear about them, so let us know in the comments
section. Tell us about the problems you have faced or ingenious ways that. Medicare has worked for you.