Medicare is a government-run health insurance program that provides coverage for individuals 65 and older and those with disabilities. It can be difficult to determine which Medicare plan is right for you, especially if you are new to the program. This blog post will outline the different types of Maryland Medicare Plans available and provide tips on finding the best one for your needs.
Keep Your Priorities Straight
When looking for a Medicare plan, it is essential to keep your priorities straight. What is most important to you? Is it having the lowest possible premiums? The best possible coverage? The ability to see your preferred doctor? Once you know what is most important to you, you can begin researching plans that will meet your needs. There are four main types of Medicare plans: Original Medicare, Medicare Advantage, Medicare Supplement, and Prescription Drug Plans. We will discuss each type of plan in more detail below.
Be Flexible About Doctors
You may have a preferred doctor that you’ve seen for years. But if your doctor isn’t on the plan’s approved list, you’ll have to pay the entire bill yourself. The same goes for specialists. If you need to see a specialist, ensure they are on the plan’s approved list. You’ll have more Medicare plans if you’re willing to switch doctors. And you may be able to save money on premiums and out-of-pocket costs. You can usually find a list of approved doctors and specialists on the plan’s website. Or you can call the plan and ask for a list.
Consider Your Drug Coverage
When looking for the best Medicare plan, it’s important to consider your drug coverage. There are a few different ways to get drug coverage through Medicare. You can sign up for a stand-alone Prescription Drug Plan (PDP) or get drug coverage through a Medicare Advantage Plan (like an HMO or PPO). You can also get drug coverage through some Medicare Cost Plans, specific Medicare Medical Savings Account Plans, and demonstration/pilot programs. Aside from your monthly premium, you may also have to pay a yearly deductible, copayments, or coinsurance for your drugs. Some plans may cover more drugs than others. If you take prescription drugs regularly, you’ll want to ensure the plan you choose covers the drugs you need at a price you can afford.
Check the Ratings
There are many ways to compare Medicare plans. One way is to check the ratings of the various plans. The Centers for Medicare and Medicaid Services (CMS) has a star rating system for all Medicare Advantage and Part D prescription drug plans. The CMS rates these plans on a scale of one to five stars, with five stars being the highest rating. When you’re looking at ratings, it’s important to compare similar plans. For example, if comparing two Medicare Advantage plans, ensure both plans are HMOs or PPOs. You can’t compare an HMO to a PPO because they’re two different types of plans.
Even if a plan has a high rating, it may not be your best plan. That’s because the ratings are based on several factors, including quality, customer service, and drug coverage. You’ll want to ensure that the plan you choose meets your needs.