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How to Choose a Medicare Plan That Works for You

How to Choose a Medicare Plan That Works for You

The time we all dread is coming. Open enrollment season for Medicare begins October 15th. With so many options available, choosing the best one can be challenging.

That’s why we’re here to make it easy on you. We’re going to break down how to choose a Medicare plan that’s right for you. And we’re going to do it by telling you the most important facts you should consider.

Read on if you’re ready to face your Medicare fears and get the info you need.

How to Choose a Medicare Plan

Medicare is a federally run health insurance program for people over 65 and some people under 65 that have qualifying conditions. There is traditional Medicare Parts A and B that you enroll in through Social Security. Part A covers hospital benefits while Part B covers medical benefits.

Then there are Medicare Advantage Plans that are run by private insurance companies. These plans are like the health insurance you likely had through your employer. The bundle together Parts A and B, and cover prescription medications, dental and vision.

Medicare Part D only covers prescription medications. And finally, Medigap plans are supplemental plans that offset the costs of traditional Medicare.

There are pros and cons to all of these plans, so what should you consider when choosing?


How much will you be paying in deductibles, coinsurance, monthly premiums and co-pays? What will your plan’s yearly out-of-pocket max be? For instance, with traditional Medicare there is no limit to your out-of-pocket expenses but there is a limit with Medicare Advantage Plans.

You will also want to look at your existing expenses to see what you currently pay towards healthcare and factor that in as well. Considering all of these factors will tell you what you can afford.

Medication Coverage

Prescription drug coverage is another huge factor to consider. If you already take certain drugs you will need to verify with each plan that it is covered. There will also be a difference in costs between generic drugs and brand name drugs, and some plans might cover one but not the other.

Medicare Advantage Plans feature prescription coverage, but there are differences between what they all cover. Medicare Part D covers prescriptions, but you have to add that coverage on to your Part A and Part B coverage. Even when you add Part D on, there can still be coverage gaps.

Enrolling in a Medigap plan can cover those gaps, but that is another cost you’re adding on.

Let Us Help

Now that you’ve learned what to consider when choosing a Medicare plan, we’re sure you can agree that it’s not an easy process. And it requires a lot of research so that you know exactly what you’re getting.

But don’t worry! That’s where we come in. Contact us now and we’ll go even more in depth into how to choose a Medicare plan that has the coverage you need, at the cost you want.

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