Things to Consider Before Upgrading Your Insurance Coverage for Medicare
The one consideration that all seniors need to make is if they, or a loved one, are on Medicaid. When you have Medicaid coverage, the supplemental insurance will not cover your prescription drugs. The other thing to consider before making an upgrade decision is how much of your monthly income goes towards paying for prescriptions and premiums as well as what covered benefits come with the new plan. For example, some plans offer savings cards which can be redeemed at many stores including grocery stores like Safeway® and CVS Pharmacy®, while others may include medical care services in addition to drug coverage such as dialysis treatments and cancer treatment medications. In this article we will try to answer questions like Is supplemental Medicare insurance a waste of money and many others.
“As always when looking at coverage plans, it’s important to understand the details of what you’re signing up for. Be sure to review your medication list and determine which medications are covered in different drug formularies before deciding on a plan.”
“If there is one thing that seniors should know about their Medicare Part D coverage is that they can make changes each year without penalty if they need to change their focus or want more services with their prescription drug coverage.”
-One consideration before making an upgrade decision is if they, or a loved one, are on Medicaid.
-Another thing to consider before upgrading your plan is what covered benefits come with the new plan and how much of your monthly income goes towards paying for prescriptions, premiums as well as other costs each month.
-It’s important to understand the details of what you’re signing up for when selecting coverage plans. Be sure to review which medications are covered in different drug formularies so that you can make changes without penalty.