Struggling to Choose the Right Medicare Plan? How a Medicare Advisor Can Help
Selecting a Medicare plan can feel overwhelming. When do you enroll? What are all the “parts” of Medicare? Which parts do you need?
You can quickly get confused in a sea of parts and plans, but you don’t have to try to navigate Medicare alone. A Medicare Advisor can serve as your personal guide, bringing knowledgeable insights while understanding your unique needs to pair you with the perfect Medicare plan.
The Benefits of Medicare Advisors
Medicare Advisors aren’t simply insurance agents trying to make a sale. They’re here to help you find the right Medicare plan. When you work with a Medicare Advisor, you can expect:
Knowledgeable Expertise
Medicare Advisors are professionals with years of experience. Knowing every Medicare plan available to their clients within their geographic area, what they cover, and for what price is their job. They’ll make sure you understand and have the basics of Medicare coverage and then walk you through all the options available to you.
Personalized Guidance
Medicare Advisors don’t just know Medicare plans, they get to know people to match them with the perfect plan. A Medicare Advisor can help you understand plan details, coverage options, and your enrollment timelines. An expert Medicare Advisor will work to understand you—your healthcare needs, budget, and future goals to craft a personalized plan that meets your needs, for the best price.
Informed Choices
Your Medicare Advisor isn’t here to sell you a plan; they’re focused on helping you choose the right plan. That means providing you with relevant information and guiding you through all that information, so you’re empowered to make an informed choice. Your Medicare Advisor will help you make that choice with confidence and peace of mind.
Decoding Medicare Plan Details for You
Looking at Medicare plans and options can feel like looking into a bowl of alphabet soup. A Medicare Advisor can help you decode all of these Medicare parts and the details of what each covers:
Part A: Hospital insurance coverage
Part B: Medical insurance coverage
Part A + Part B comprise the parts of the government-funded and managed Original Medicare.
Part C: Medicare Advantage Plans (encompassing Part A, Part B, Part D, and more), all offered by private insurance companies.
Part D: Prescription drug coverage plans (not included in Original Medicare but usually packaged in Medicare Advantage Plans).
Medicare Supplement Plans (or Medigap): These supplement plans fill in the “gaps” or costs that Medicare does not cover. All the Medigap supplement plans have their own alphabetical identifiers, from A through N.
Starting to see letters float all over the screen? Not sure which letter connects with which benefit? A Medicare Advisor can unscramble it all, connecting the dots (err, letters) on the parts and coverage that you need.
Simplifying Your Healthcare Choices
One of the great things about all these Medicare parts and plans is that you have tons of options for building the best coverage for you. But with so many to choose from, how do you know which choice is the right choice?
A Medicare Advisor can simplify all of the options for you. They’ll combine their deep knowledge of Medicare with a deep understanding of you. Your Medicare Advisor will:
Assess Your Unique Needs
That means getting to know you—your current health, your lifestyle goals, and your budget. This may involve asking some challenging questions, but evaluating your current healthcare needs and getting you thinking about what you may need in the future will lead you to a plan that meets both. With your advisor, you’ll look at current prescription drugs you’re taking, how frequently you go to the doctor, and any lifestyle changes you anticipate (relocation, travel plans, etc.). You’ll also crunch the numbers to make sure your budget matches your coverage wants and needs.
Craft Your Personalized Plan
Taking a hard look at your health and sharing that information with your advisor will help ensure you have a plan that aligns with both your wants and needs, now and for the future. Your advisor will combine your health and budget information with their Medicare expertise to compare the various plans and parts and be sure you understand how they’ll work together to help you meet your needs. You can make an informed decision on the best possible options, tailored specifically to you.
Navigating Medicare Enrollment with Expert Support
Did you know that there are five different enrollment periods for Medicare? It’s true! Do you know what they all are, when they are, and how they apply to you? Your Medicare Advisor will, and they can walk you through every enrollment period, ensuring you have every form complete by the enrollment deadline.
Initial Enrollment Period (IEP): This is when you’ll complete your initial enrollment for Medicare through the Social Security Administration (SSA) to verify your eligibility. The enrollment period begins three months before your 65th birthday, includes your birthday month, and continues for three months after your birthday month.
General Enrollment Period: If you miss your IEP you can enroll during this period, which runs from January 1 to March 31. But watch out, because you may incur late enrollment penalties of 10% on each part.
Special Enrollment Period: If you experience a life event, like moving or retiring so that your health coverage changes, you’re eligible for a special enrollment period with Medicare. The length of this enrollment period can depend on the type of coverage you had (and lost) or the life event.
Medicare Annual Enrollment Period: Also called Open Enrollment, this is when you annually renew your Medicare coverage and have the opportunity to make changes to coverage and plans. The Annual Enrollment Period runs from October 15 to December 7 every year and applies to everyone currently enrolled in Original Medicare (Parts A and B), Medicare Advantage Plans (Part C), and Medicare Part D prescription drug plans.
Medicare Advantage Open Enrollment Period: Those with Medicare Advantage plans have an additional, one-time opportunity to make a change in their coverage. The Medicare Advantage Open Enrollment Period runs from January 1 through March 31 every year (the same timeframe as the Medicare General Enrollment).
If you’re looking at Medicare Supplement Plans, they’ll have their own open enrollment and special enrollment periods to consider.
Whether you’re new to Medicare and about to embark on your initial enrollment, need to change plans due to a life event, or looking for better coverage that better suits your budget and lifestyle, a knowledgeable Medicare Advisor knows what’s available to you and when.
Why Expert Advice Matters
Navigating the parts and plans of Medicare can be overwhelming. A Medicare Advisor can help you through the process, helping determine your eligibility, walking you through Medicare enrollment, and doing the research of plan comparison. Most importantly, they’ll get to know you and your unique needs to ensure you’re matched with the perfect plan.
At Wandacare, we understand that every person’s needs are different and every Medicare journey is unique. It’s a journey you don’t have to take alone. With over a decade of experience helping our Polk County community navigate Medicare, Wandacare’s licensed Florida agents are ready to help you every step of the way.
