At Dyers Group we like to partner with other experts in the industry. Our friend Karl Ruth at AJM Associates, Inc. has some great Medicare information for you.
Getting the most out of your Medicare benefits
We were assisting a client recently with his Medicare decision. He had just turned 65 and was excited to start using his Medicare. Now that he’s made his decision, he asked me how he gets the most out of his new benefits.
This is a wonderful question. One in which we discuss with our clients every day, so in this blog post, I am going to cover how you can get the most out of your Medicare benefits once you’ve joined.
There are three (3) basic factors to consider.
- Which program did you join? Original Medicare, Medicare Advantage, or Medicare Supplemental (Medigap)?
These three are very different types of Medicare and have different types of benefits.
Medicare Advantage sometimes will have extra bells and whistles like dental & vision coverage, a free gym membership, and things like that. Original Medicare does not.
Medigap is Medicare Supplement Insurance that helps fill “gaps” in Original Medicare and is sold by private companies. Original Medicare pays for much, but not all, of the cost for covered health care services and supplies. A Medicare Supplement Insurance (Medigap) policy can help pay some of the remaining health care costs, like:
- Copayments
- Coinsurance
- Deductibles
We don’t recommend that you pick a program simply based on free perks. However, if you have the extra benefits make sure that you’re getting the most out of them.
Medicare Pro Tip: Everyone on Medicare has access to free preventative services. Through the Affordable Care Act, you can find a list of preventative services that are covered at 100% with no out-of-pocket cost. Health services such as annual exams and lung cancer screenings are good examples.
For a comprehensive list of the preventative services covered under Medicare, click here!
- Confirm which type of Medicare your doctor accepts.
One of the most important things for getting the most out of your Medicare benefits is making sure that your provider actually accepts your Medicare benefits. If you go to your doctor who’s not actually accepting your Medicare plan, you’re not going to get the most out of your benefits.
This may sound simple, but we are often surprised by how many times people come to us and say, “I had no idea that my doctor did not accept Medicare, why am I getting this huge bill? Can you fix it for me?”
In order to get the most out of Medicare at the lowest cost, you need to be 100% confident that the doctor you’re seeing accepts your Medicare plan.
- Understand the extra services that Medicare covers.
Amongst the preventative services I mentioned above, Medicare also covers a lot of surprising services. Some of those include certain chiropractic care, as well as certain acupuncture.
To get a comprehensive list of these services, you can click here!
The reality is Medicare is amazing health insurance as long as you:
- You pick the right program and plan for you.
- You understand how the benefits work, what benefits are included, and how to get the most out of Medicare.
AJM Associates, Inc.
At AJM Associates, we want to make sure you get the most out of your elected Medicare Benefits, at the lowest costs, and fitting both your healthcare and financial means.
To get unbiased help with your Medicare decision, contact Karl Ruth at AJM Associates, Inc.
