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7 Mistakes People Make When Choosing a Medicare Plan
Helping people choose the right Medicare plan
Choosing your first Medicare plan is a critical decision that can directly affect your finances and your healthcare experience. The Centers for Medicare & Medicaid Services (CMS) recommends that beneficiaries review and compare Medicare plans each year. Studies show that more than half of seniors who shop around, even for an hour or two, find better coverage and often save money, too.*
Healthcare.com is your trusted resource for all things health insurance. We provide easy access to custom quotes, coverage options and the support you need. Helping older Americans with their Medicare plan needs has enabled us to deliver an easy-to-use, tech-friendly comparison shopping experience.
By avoiding these seven common mistakes, you can make a well-informed decision, possibly save money, and feel confident about your plan choice.
1. Only looking at one carrier.
Carrier plans are competitive, and you will want to check cost, coverage and specific benefits. Don’t assume that one is a direct reflection of all.
2. Not comparing Medicare Supplement vs Medicare Advantage.
Do your homework and look at the benefits of both. Make sure you know the difference between them and which one has benefits most suited to your needs.
3. Not looking for your doctor in the plan network.
In-network and out-of-network services come at very different costs. Make sure you check to see if the network of the plan you are choosing has your preferred providers participating.
4. Not knowing what prescriptions are covered.
Prescription drug costs can be extremely high. Know your prescriptions and check to make sure they are covered and at what price. You don’t want to be surprised with an outrageous price tag.
5. Not knowing if you are covered while traveling.
Do you travel frequently? And does your plan provide coverage when you are away from home or out of the country? This is important to know.
6. Not checking for plans with telehealth and eyeglasses included.
These days especially, telehealth is an important benefit, and one you want to utilize whenever possible. Eyeglasses can be a significant cost if they are not covered in your plan as well.
7. Not considering all costs when looking at plans.
Look at premium, but also out-of-pocket costs such as copayments, coinsurance, deductible and out-of-pocket maximums. Make sure to look at total cost.
Choosing the right Medicare plan is critical, and we are here to help. Healthcare.com generates custom quotes, and offers you tailor-made matches in health coverage. If you would like to compare plans, curated for your location and circumstances, click here.