Paying for Medicare
Because Medicare is intended for seniors, its health insurance coverage is very comprehensive and geared towards many medical costs that can occur during retirement. Medicare often covers many medical bills, but there are still some costs that beneficiaries will need to pay for out-of-pocket. If you’re worried about paying for Medicare, know that there are different resources and options to make sure that it’s financially possible for you.
Don’t let the prospect of bills stop you from enrolling in Medicare. Delaying your Medicare enrollment could mean that you’ll have increased costs in the future, so it typically makes the most sense to enroll during your Initial Enrollment Period. This is when you’ll be able to select the plan which makes the most sense for you.
About Medigap
If you’re enrolled in Original Medicare, you should consider purchasing a Medigap policy. This type of policy is sold through private insurance companies and they will be able to provide more specific information about each of their offerings. There are ten different Medigap policies, but insurance companies are not required to carry all ten. If there’s a certain policy you know you want to enroll in, reach out to Cornerstone Senior Advisors today, and we can help you find and compare policies.
The purpose of Medigap is to lower bills for Original Medicare beneficiaries. Medigap does this by covering a percentage of some costs. If there’s an area you’ve been paying increased amounts in the past, then you might be able to select a Medigap plan that would provide specific coverage to lower those costs.
Selecting the right Medigap policy is one of the best ways to prepare for the future and lower your bills. If you have questions about Medigap, reach out to us and we’ll be happy to go over all of your options with you.
Medicare Savings Programs
There are four Medicare Savings Programs and eligibility is determined by income. These programs cover some Medicare costs and are an effective option for those in lower-income brackets. Which Medicare Savings Programs are available will vary by state, so do some research and make an appointment with a local insurance agent if you’re interested in learning more.
Asking the Right Questions
Doing research and finding new information is an important part of the Medicare process. If you’re feeling overwhelmed by your Medicare bills, know that there are options available. Asking questions and getting the right answers is an important step in reducing your bills, so don’t hesitate to reach out.
At Cornerstone Senior Advisors, we’re here to make sure you have all the information you need when it comes to Medicare choices. We’re honored to be a leader in our field and work with so many amazing clients in the Wichita, KS area. Call today and make an appointment — we look forward to seeing how we can help.