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3 Items To Consider Before Buying A Medicare Supplement Plan In Reno Nevada.

 

If you are a resident of Reno, Nevada, you already know you are a step ahead of the rest of the country in finding the ideal place to live.  Reno really is the Biggest little city.  We have all big city entertainment and recreational outlets, wrapped in a small town package.  It's this unique combination of amenities and lifestyle that makes Reno an ideal place to live.

What you don’t need, is for your relatively ideal lifestyle to be hampered by a Medicare supplement insurance choice that was not well thought out.  Consider these 3 key steps to acquiring a first-rate Medicare Supplement, or Medicare Advantage plan:

1.  Know your Medicare eligibility requirements.

For starts, you of course must be covered by Medicare before you can qualify for a Medicare insurance supplement, or Medicare Advantage plan.  Not everyone initially qualifies.  For example, if you have not paid enough social security employee tax fees to the government, you may have to pay an additional fee in order to be eligible.  (Please feel free to give us a call for more information on this.)

2.  Know what Medigap options are available to you.

If you are covered by Medicare, you will need to choose from an array of Medicare insurance options.  Medicare supplement plans are offered in specific benefit packages that are signified by letters of the alphabet.  For example: Medicare Supplement Plan A, Medicare Supplement Plan N, Medicare Supplement plan G.  The benefits of these plans are standardized by law.  So, no matter which insurance company is issuing the plan, the benefits for each plan type are generally the same.  Consequently, a Medicare Supplement Plan F offered by Anthem Blue Cross Blue Shield, is required to provide the same general benefits as a Medicare Supplement Plan F issued by Humana, or Mutual of Omaha.

There are also Medicare Advantage plans.  The benefit structure of these type of Medicare insurance plan options are entirely different.  They generally provide more comprehensive coverage at a lower cost.  However, they are likely to have more restrictions on usages and networks.  Be sure you fully understand how Medicare Advantage plans work, before signing up for one.

Good to know:  Each insurance provider has a formulary or list of medicines covered by the plan.  If a medicine is not on the formulary it may not be covered and you may have to endure a potential nightmare attempting to find an alternative medication.  The list of covered medicines is also often divided into tiers, which determines how much of a copay or coinsurance you may have to pay.  Make a list of your current medicines and compare it to the plan's formulary to make sure your medicines are covered and you understand the out-of-pocket costs that may be associated with them.


3.  Know what you can afford.

Whether you reside in Reno, or anywhere else, when considering a Medicare Supplement plan, you must take into account your long-term financial budget.  You can expect the monthly premium for any Medicare Supplement plan you choose to trend upward in price.  Therefore, you need to have a good idea as to what your financial position will be for the foreseeable future.

All of these issues should be discussed with a Medicare Insurance specialist.  We are happy to help.  Give us a call today.


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