After a lifetime of employer-provided insurance, transitioning to Medicare can be a frightening experience. We occasionally come across persons who have unnecessarily doubled or even tripled their insurance coverage. It's frequently done because they're worried about how Medicare would cover their medical expenses. Some may even inquire as to whether Medicare is beneficial or harmful.
Here are a few reasons why you should love Medicare:
Medicare is an effective system.
Most of you will be astonished to learn that Medicare has an administrative budget of less than 2%. Therefore, it dictates that Medicare spends 98 cents on health care for every dollar it receives (doctors and patients). In the case of private insurance, this figure is often 75 to 80 cents on the dollar.
The fee schedule for Medicare.
It's not great, but it's not terrible. Sure, Medicare's rate schedule has only increased by 3.1 % in the last 12 years, but practice costs have increased by 30 % (based on the Medicare Economic Index). The difference between Medicare and commercial insurance fee schedules for many insurance plans is approximately 5-10%, rarely more than 35%.
Medicare patients can freely travel.
These days, many retirees travel extensively. Some people may even split their time between two states for a portion of the year. With global families, this is more frequent than ever. Many clients live in another state for several months each year to be closer to their children and grandchildren. Because conventional Medicare is a nationwide program, you can easily see doctors in both states.
Original Medicare does not require referrals.
If an HMO plan has ever insured you, you know how inconvenient it may be to receive a recommendation from your primary care physician to see a specialist. Traditional Medicare A and B allow you to see any expert or clinician who accepts Medicare without the need for a referral. So, if not having to refer is crucial to you, go with Original Medicare rather than a Medicare Advantage plan.
Medicare is a good option when paired with the proper coverage.
So, is Medicare a good thing or a bad one? Overall, it's a fantastic experience. While no program is perfect, we see people who spend over a thousand dollars per month on Cobra benefits all the time. Yet, they are relieved to be moving to Medicare. For the most part, Medicare Part A is free, and Medicare Parts B and D are reasonably priced.
New Advantages to Help You Stay Healthy
Regardless of the delivery method you choose, Medicare has a lot of benefits for preventative care. Medicare evaluates preventive care and wellbeing regularly and adjusts coverage as needed. As a result, you will always get the screenings, tests, and vaccines you require to be healthy. In addition, Medicare Advantage plans come with a slew of extra features targeted at keeping seniors safe and healthy. Telehealth, transportation, in-home meal delivery, complimentary gym memberships, dental and vision services, and more are just a few of the perks!
Do you require assistance with Medicare?
Do not believe the critics who argue Medicare is a waste of money. On the contrary, it will be better in many respects than private insurance or employment coverage, although entirely different! Contact the Medicare professionals now if you need assistance selecting a Medicare plan that meets your needs.