Tips To Get The Most Out Of Your Medicare Benefits

Medicare can help keep you healthy, and your medical costs low. Here are some tips to ensure you get the most out of this government insurance program.

1. Enroll on time.

Not signing up for Medicare within your Initial Enrollment Period (IEP) can be very costly. This seven-month period lasts from three months before your 65th birthday month to three months after it.

Enrolling late won’t affect your Part A hospital coverage costs, as most don’t have a premium here. For Part B medical costs, however, late enrollment can result in thousands of dollars in higher premiums in the future. For every 12 months past the enrollment period, Medicare will penalize you with a 10 percent premium hike. Your Part D prescription costs can increase due to delayed signup as well.

Why does Medicare penalize late enrollment? Because the government doesn’t want people to wait until they’re ill to sign up.

2. Pick the right doctors.

To get Medicare’s help with costs, you’ll need to choose doctors that accept the insurance. These fall into the participating and non-participating categories. Opt-out providers can charge whatever they want, so beware when selecting them for your needs. And if you have a Medicare Advantage plan, know that you’ll have to pick doctors within the proper networks to avoid higher costs.

Determining whether or not a doctor participates in Medicare is just part of the equation. You should also interview them to see that they’re a good fit, especially if you’ve been going to a different provider for all of these years.

Even if you get a solid word-of-mouth reference, nothing beats talking to a doctor one-on-one to ensure you feel comfortable with them. As a senior, experts suggest you look for doctors that stress “geriatric sensitivities.” In other words, do they show concern for senior-related issues like feeling safe at home, living alone, lack of companionship, etc.? If not, you may want to look elsewhere.

Should you need help finding senior specialists, the Health in Aging Foundation has a website that can let you search locally.

3. Get free preventive care.

Medicare offers a ton of free care that’s a mystery to most. For starters, you can get an annual wellness visit as a quick, complimentary check-up. If you need a virtual check-up from home, Medicare now pays for telehealth services.

You can get free preventive care that assists with alcohol abuse, depression, smoking, nutrition, and more. To see all of Medicare’s no-cost preventive screenings, go here.

4. Make sure Medicare covers it.

The last thing you need as a senior on a fixed income is a surprise medical bill. That’s precisely what can happen though if Medicare does not cover something. You can go here to see if Medicare covers something before it’s too late.

If you do receive a large medical bill, don’t pay it immediately without getting clarification first. Call your healthcare provider, Medigap insurer, supplemental insurance, etc. before paying out of your own pocket.