How to Choose a Medicare Plan

When it comes down to how to choose a Medicare plan among everything that is available out there, it boils down to what services you need the most. 

If you feel like you have a lack of extra benefits, Medicare Advantage can do that for you. 

Worried about copayments associated with lengthy hospital stays or other services? Medicare Supplements is your best bet. 

Just need your prescription drugs covered? Medicare Part D is what you need.

How to pick a Medicare plan

You’ll have to ask yourself a few questions. Do you want a lower premium with fewer benefits? Or does paying more for more coverage make more sense for your situation?

Do you take prescriptions? Do you travel?

The answers to these questions make a huge difference in what you need. 

Our agents at Senior Medicare Advisors are experienced in helping Medicare beneficiaries find the coverage that best fits their unique situation

Differences in Medicare Advantage plans

When picking Medicare Advantage plans, they will differ in: 

  • Whether they contain Part D prescription drug coverage
  • Primary and specialist copay visits
  • Benefits included (dental, vision, hearing, fitness memberships, transportation to healthcare services, over-the-counter drugs, etc.)
  • In-network out-of-pocket max (has to be under $6,700)
  • Deductibles

Comparing Medicare Supplements

Each plan covers a different percentage of the following items: 

  • Medicare Part A coinsurance or copayment and hospital costs
  • Medicare Part B coinsurance or copayment
  • First three pints of a blood transfusion
  • Part A hospice care coinsurance or copayment
  • Skilled nursing facility coinsurance
  • Medicare Part A deductible
  • Medicare Part B deductible***
  • Medicare Part B excess charges 
  • Foreign travel emergency (up to plan limits)

*** Those who turn 65 after January 1, 2020 are not eligible for plans that offer this benefit

You’ll need to decide which cost-sharing you need covered most and what you’re comfortable paying for in premium.

How to pick Part D plans

This one is a little easier. You only need to make sure the prescriptions you’ll need or are most likely to need are covered. Then, you need to decide whether you want a lower deductible and premium or more coverage.

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