If you’re nearing retirement age, starting to consider Medicare is essential. This government-sponsored health insurance program can be a great way to cover your medical expenses in retirement. However, there are a few things you need to know to get the most from Maryland Medicare Supplement Plans. This blog post will discuss four tips to help you make the most of your Medicare coverage.
Check the Calendar
The dates for enrolling in Medicare are among the most crucial details to keep in mind. During your initial enrollment period, which starts three months before you turn 65 and ends three months after that date, you must enroll in Medicare. You can be charged a late registration fee if you don’t enroll during this time. The dates of your Medicare coverage should also be noted. Typically, Medicare Part A and Part B coverage lasts for ten years. After then, to keep your coverage, you must re-enrol.
Consider Your Network
The other thing you’ll want to do is make sure that your network of providers will work with Medicare. That means checking to see if your current doctor accepts Medicare patients. If not, you may need to find a new one. You’ll also want to check with any specialists you regularly see to ensure they’re in your network. Otherwise, you may have to pay for those services out of pocket. It’s also important to check your network coverage before you travel. If you plan to go out of state, you’ll want to ensure that your Medicare plan will still cover you. Otherwise, you could be stuck with a huge bill for medical care.
Drug Plan Coverage
You should also ensure that your drug plan regularly covers your medications. If it doesn’t, you may pay a lot more out of pocket for your prescriptions. You can check to see if your plan covers your drugs by using the Medicare Plan Finder tool on Medicare.gov. You should also be aware of the coverage gap or “donut hole.” This is when you have to pay 100% of the cost of your prescriptions. The good news is that the donut hole is scheduled to close in 2020. If you take a lot of medications, you may want to consider a Medicare Advantage plan.
Travel Limitations
If you’re on Medicare, there are some travel limitations you should be aware of. If you plan to travel outside the United States, you should know that Medicare will not cover any medical expenses you incur while abroad. Additionally, if you’re planning to travel within the US, it’s essential to know that Medicare will only cover emergency care if you need non-emergency care while away from home. You’ll likely have to pay out of pocket.
With that said, there are some ways to help offset the costs of travel-related medical care. For example, many Medicare Advantage plans offer some coverage for routine care outside the US. Additionally, Medigap plans can help cover the costs of emergency care while you’re traveling. If you’re a frequent traveller, it’s worth looking into these options to see if they would be a good fit.
