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Top 3 things you need to know before buying Medicare for parents
If one or both of your parents are 65 or older, chances are you (and they) may be concerned about their healthcare coverage needs. But navigating the complex network of different Medicare plans can be daunting. Luckily, you're not alone.
With Policy Savings, you can speak to a licensed insurance agent who will explain and guide you through the different options available and answer all your questions so you can confidently choose the right Medicare coverage for your parents. Let's start with the basics.
To learn more, click HERE or call 1(833)-221-0154 (TTY:711) and speak with a licensed insurance agent to get your no obligation free quote today.
To learn more, click HERE or call 1(833)-221-0154 (TTY:711) and speak with a licensed insurance agent to get your no obligation free quote today.
To help get you started, we've answered some common questions about buying Medicare:
What is Medicare?
Medicare is a public health insurance program in the United States. Once they turn 65, eligible Medicare recipients collecting Social Security are automatically enrolled in traditional Medicare Parts A and B, which together form the basic coverage:
Part A
covers your loved one's hospital stays and some related outpatient care, for example, if they need a home health aide, hospice care or short-term nursing care
Part B
covers other expenses including doctor visits, diagnostic tests, preventive care and medical devices
But, neither of these plans cover things like
co-payments and
deductibles, prescription drugs and dental or vision care.
So, many people also enroll parents in either Medicare Supplement (Medigap) or Medicare Advantage plans to cover these gaps.
Call to Learn More TTY: 711
Aetna is a leading insurance company that offers diversified health care benefits to members. Aetna offers both individual and group health insurance, including Medicare Advantage Plans, Medicare Prescription Drug Plans and Medicare Supplement Insurance.
Nearly one in three Americans rely on Blue Cross Blue Shield companies for access to safe, quality, and affordable healthcare. Blue Cross Blue Shield has been part of the Medicare program since it began in 1966. They offer multiple Medicare insurance options to their qualified members.
Cigna offers tailored health insurance to its members. Cigna offers health, pharmacy, dental, supplemental insurance as well as Medicare plans to individuals, families, and businesses.
UnitedHealthcare offers Medicare coverage for medical, prescription drugs, and other benefits like dental. United Healthcare is the only provider that offers Medicare plans with the AARP name.
What is Medicare Advantage?
Policy Savings offers Medicare Advantage plans from private insurance companies including AARP, Aetna, Blue Cross Blue Shield, Cigna and United Healthcare, that provide benefits coverage beyond traditional Medicare. Often, they have lower rates than Medicare Supplement plans though coverage and costs can differ greatly, so it's important to review each plan carefully.
If this already seems overwhelming, don't worry.
Policy Savings is here to provide FREE no obligation, unbiased insurance advice
and is the best way to find the right coverage to fit your parents' individual circumstances. In the meantime, here are three important things you need to consider before buying additional Medicare coverage:
Know when to enroll
There are several special enrollment periods for specific situations but generally, if you want to sign up for or make any changes to Medicare plans, the open enrollment period starts October 15th, 2021 and goes through December 7th, 2021.
Understand your parents needs
Medicare coverage is designed for individuals and doesn't extend to families or spouses, so each person is enrolled separately. When choosing additional coverage, you'll need to consider each parent's current and future health and finances, as well as their network of current providers and any retiree plans.
It's okay to ask for help
Figuring out Medicare coverage is difficult for most people, so it's natural to have lots of questions! Policy Savings connects you with licensed insurance agents who may save you time and money by helping you find the right Medicare coverage that meets your parent's needs - at no additional cost.
Need Help? Call a licensed insurance agent
Get the answers to your questions with no obligation to enroll!
Glossary:
Deductible
The amount you must pay for health care or prescriptions before Original Medicare, your prescription drug plan, or your other insurance pays its share.
Co-payment
Co-payment is a fixed amount of money that you pay out-of-pocket for a specific service. It often includes doctor visits or prescription drugs.