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Which Medicare Plan is Right for You?

It’s good to have options when it comes to many things in life, but with Medicare, there are so many plan options it can seem nearly impossible to sift through all of them. So, how do you find the plan that fits your needs? See below for tips from our advisors.  

Know That Your Plan Choice is Unique to You

Medicare is structured differently from employer coverage, which is designed to cover up to several family members. Instead, Medicare plans are specific to individuals and cannot cover dependents. This means that spouses cannot share health care coverage like they may have done in the past. 

Although personalized coverage may be a foreign concept initially, it works quite well because it allows you to consider your own health and financial needs when choosing a Medicare plan.  

It’s natural to want input from friends or family about important decisions in your life, including your Medicare plan choice. Although you might receive well intentioned advice from loved ones about certain Medicare plans they recommend or even specific insurance carriers they prefer, know that the right plan choice for you may be different from theirs because your needs may be different.   

Consider Your Budget, Health, and Lifestyle

Since Medicare plans are unique to each person, it’s important to consider a few factors when reviewing your plan options.

Budget

Your financial situation and budget preferences can help guide you toward the right fit for you. Ask yourself these questions:

  • Do you prefer paying little to no monthly premium for your plan, only paying copays, coinsurance, etc. as you use it, and having a cap (or “safety net”) on your annual expenses? 
  • Or would you rather pay a monthly premium that covers all expenses regardless of how often you use your plan? 
Health 

Consider your current health needs. Do you have relatively few doctor visits annually or do you have a health condition that requires more frequent medical care?

Lifestyle

Lifestyle may not be something that immediately comes to mind when you think of a Medicare plan, but we encourage you to ask yourself these questions:

  • Do you travel often?
  • Would you like to access additional benefits, such as dental, vision, and hearing coverage, a fitness membership, an over-the-counter allowance, or others?

Partner with an Advisor in Medicare

When you’re selecting a Medicare plan, we highly recommend working with an expert to ensure your plan truly fits your personal needs. That’s where RetireMed comes in. 

Our local advisors know the ins and outs of Medicare and we’re here to help you navigate Medicare at no cost to you. We get to know your personal needs and preferences, consider your current doctors and prescriptions, and discuss your questions and concerns. Then, we look across multiple insurance carriers and hundreds of plans to provide our top recommendations for you. Your plan choice is ultimately up to you, but we’re here to walk you through every step and we do the heavy lifting for you, making the process much easier to manage.

Once you enroll in a plan with us, you receive year-round support from our team of client advisors for your Medicare or plan-related questions and needs. 

We’re here for you!

Whether you have questions about getting started with Medicare or you’re ready to choose a plan, we’re here to help! Contact us at 844.388.6565 or schedule a call. Not sure if you’re eligible for Medicare? Check your eligibility here

If you’re currently a client of RetireMed and have questions about Medicare or your plan, contact your client advisors at 877.222.1942