Selecting the right Medicare health insurance coverage is more challenging than ever before. Not only is there a large and confusing selection of choices (Original Medicare, Medicare Advantage, Medigap, Pensions, Tri-Care, Prescription Drug Plans, Cost Plans, MSA, PFFS, PACE, Special Needs Plans, etc.), but finding truly knowledgeable, unbiased advice seems almost impossible, yet it is critically important to you.
Most folks on Medicare don’t really know or understand the coverage they have as compared to the other options available. This can lead to MAJOR PROBLEMS down the road. Some of these problems are: HUGE co-payments for hospitalizations, surgeries, cancer treatments (chemo & radiation), chronic illnesses etc. I’ve even encountered people that were refusing necessary cancer treatments because they simply couldn’t afford them. Another common problem is going into the “doughnut hole” sooner than need be.
The right medicare advisor can help you avoid these common problems. But finding the right advisor isn’t always easy. Here are the traits you should look for in an advisor to ensure that you receive knowledgeable and unbiased advice; 1) Make sure your advisor specializes in Medicare. Just because your agent may know a lot about auto or life insurance, doesn’t mean they know about Medicare. 2) Make sure your advisor is independent, not tied to just one or two insurance carriers. This is not a “one size fits all” type of insurance, mistakes or bad advice can be very costly. 3) Make sure your advisor can offer multiple types of policies from multiple carriers. 4) Make sure your advisor does regular reviews of your coverage as your needs will change over time. 5) Is there an advisory fee? The short answer should always be “no”.
Make sure you get the expert Medicare advice you need. This will help ensure you get the best Medicare has to offer, rather than letting Medicare get the best of you.
Editor’s Note: This article was submitted by Bill Gundelfinger-’Mr. Medicare℠’ of Senior Benefit Advisors, Medicare Experts. ‘Helping Medicare Beneficiaries get the most out of their health insurance.’ He can be reached at 720-675-8032 or 800-376-5450