So my friend told me I should just go with the cheapest Medicare plan. That sounds too simple - what am I missing?
Answered by 19 licensed agents
The cheapest plan may or may not be your best choice. Depending on your personal needs and budget. It’s always best to look at and compare all your options and be sure you understand the differences in each plan. There is no one size fits all and it’s much better to discuss your choices with a licensed agent rather than depending on options of anyone that isn’t trained and certified to explain all options and not just select plans.
Medicare comes in different parts (A, B, C, and D), and your choices determine your cost. Choosing a cheap or simple plan during your initial enrollment could jeopardize your ability to choose other plans later in life that could benefit you the most regarding health coverage.
An independent health insurance agent should be able to show you the difference in these areas. If you choose this cheaper plan today, ask your agent lots of questions about your long-term goals, coverage, and premium costs five, ten, or fifteen years from now.
All plans can be cost effective. It truly depends on your current situation. Plan cost effectiveness and suitability are based primarily on your needs and budget.
Everyone's situation is different, and insurance is not a one-size-fits-all. Each Medicare beneficiary needs to review all of their options to find what will work best for them.
Working with a broker/agent can ensure you get the assistance you need.
The cheapest Medicare plan might save you a few bucks up front, but it could cost you big time down the road if it doesn’t cover what you actually need. Here's what you're probably missing:
-Coverage gaps
-Out of pocket costs
-Networks
-Drug coverage
Think of Medicare like golf clubs - you wouldn't choose your driver based on price alone, would you? You deserve a plan that fits your needs and not cheapest sticker. Find a advisor that can help you compare your options and walk you through the process, no pressure.
Since there are more than 1 type of Medicare plan, it's in your best interest to have a full needs assessment so you are choosing the plan that fits all your needs.
You need to go with a plan that best suits your medical and financial needs if your budget can handle a copay, then go with a Plan N. If you can handle a higher premium, then Plan G.
It all depends whether you have chosen to go Supplement or Advantage. What’s cheap to one person is expensive to the next. Get good council and then choose according to your comfort level.
Ugh…it really depends on your needs, your healthcare needs. May be referring to a zero premium Medicare advantage plan. There are many of those…but speak to an agent to make sure it meets your needs!
Well cheapest doesn’t always mean lowest cost right? Your no premium Medicare advantage plan might be “cheap” but depending on your health concerns, doctor networks and prescription drugs it could end up being very costly year over year. This is one of the many reasons why it’s valuable to work with a certified Medicare agent.
A decision to go with the cheapest option can be made very expensive in the long run. Each beneficiary is different and before a decision can be made a professional should determine your prescription cost, doctors, hospitals. In addition, there could be chronic illnesses, income and other items to take into account before decisions are made.
That is a loaded question. You are missing a lot because what they suggested is not explaining to you, all your options. The cheaper are plans are best for those on Medicaid. Those plans may have some hidden costs for those not on Medicaid. Medicare Supplements offer 100% coverage after you pay the Part B deductible of $257 for the year.
You really need to speak with a Medicare expert that will go over ALL your options so you can make a well informed decision for yourself.
Simple does not always equal successful. Every Medicare recipient has a set of doctor, hospitals, pharmacies and prescriptions that uniquely defines what plans may fit your needs. Your healthcare is too important to shrug off a decision based solely on cost.
The cheapest plan isn’t always the best plan. Your needs & wants in a plan may be different than that of your friends. This is why it is best to work with an agent or broker so the we can find out what your wants & needs are & match you with the best plan.