Video Series – #4 – This tip, if followed every 2-3 years can lead to enhanced benefits and many times thousands of dollars in savings over your retirement. Make sure you are reviewing your Medicare Coverage Options.
If you would like further information on Medicare Coverage Options, planning for or reevaluating your retirement, or simply want to chat, give us a call at 231-421-7391.
Hey, all you Michiganders on Medicare, Sara Hornick here with Hudson Wealth Management out of Traverse City. With Tips that could save you thousands in 2021 if you are a Medicare Recipient in Michigan.
Now, I’ve already gone over a few tips. We’ve talked about calling pharmaceutical companies to get grants that could possibly save you on some of those hefty-priced prescriptions. We have talked about comparing your Medicare Supplement Premium every 2-3 years to make sure that you are not paying too much. Then we’ve also talked about Veterans and those folks on Medicaid, about some extra benefits that they might be entitled to that they didn’t even know about!
So what is tip #4? -> Knowing your Medicare Coverage options
Today, we are going with Tip #4, and Tip #4 is, Knowing all those medicare coverage options out there. If you don’t understand all of your options, then you’re not going to be able to choose the one that’s best for you. Boy healthcare jargon can get pretty confusing can’t it? We have Parts A, B, C & D of Medicare, but we also have Supplemental plans that go along with Medicare. Which are also letters! I don’t know, I think the Government could change that a little bit, make them numbers or something but, we have popular plans like G! Plan G? What is a plan G? Plan N, Plan F, for some of you Plan D, Legacy plan C. those are all Medigap policies that give you benefits to bridge the gaps in Medicare!
Now, there’s another route that you can go which are the advantage plans. What about those? What is a PPO? What’s an HMO? What’s a special needs plan? Could you dual enroll?
If all of this sounds like Jargin to you, You should really give us a call! Because this is what we do every day and it could very possibly be that you’re in a plan that isn’t the right fit for you! Did you know that there are plans out there that have limited dental and vision? And other benefits like rides to the doctor, healthy eating discounts, gym memberships, did you know that? And if you have one of those plans, did you know that there are other plans out there where you never have a co-pay when you go to the doctor? Isn’t that fabulous? So, you have to know all your options before you can really make the best decision as to how Medicare is going to work most efficiently for you.
Who, What, Where, When, Why
So what you’re going to want to do, is you’re unique, you’re going to want to ask:
Who? Who is getting the coverage? Right, is it somebody who has a lot of health problems? Is it somebody who never goes to the doctor? Who is it? Who is the person?
What kind of coverage are you looking for? What is important to you? Do you want everything covered upfront? Or does it not matter to you that you kind of pay as you go? So Who and What.
Where? Where are you going to be using your coverage? Do you go out of state? Do you have the best coverage when you’re down in Florida, enjoying your wintertime down there? Maybe there is a plan out there that is better.
We want to know when you want to pay for your care? Do you want to pay for it, like I said before, upfront? Or would you rather pay as you go? Or do you want to pay it all at once? Or do you want to pay it monthly? When do you want your premiums to come out and what would work best for you?
Then Why do you have what you have? If you have what you have because somebody just said,” yep that’s what you should have.” And you’ve had it for 10 years, Hoof! You should give us a call, Really. Cause I guarantee if you’ve had something fr 10 years, 95% of the time there is something out there now that is much better than what you have.
Final Thoughts
YOU shouldn’t be worrying about your health coverage or Medicare Coverage Options. You should be planning maybe a bike around Mackinac Island, with your friends, well maybe, I don’t know if the ferries are running, have the time it is, half the time it isn’t right!? But it’s a beautiful ride around Mackinac Island, or anywhere else in Michigan. Let’s face it we live in the most beautiful state that is out there for sure. So, give us a call, we’ve got plenty of agents who can do a review for you, complementary. And until I talk to you next time, have a great day, Bye!
