Medicare tends to have a bad reputation. Policyholders often complain about prescription drug costs or lack of coverage for long-term care. But many Americans are very satisfied with Medicare – a 2019 survey showed that 75% of enrollees were extremely satisfied or satisfied with their Medicare coverage.
We know Medicare isn’t a perfect system. But there’s a lot of good things in Medicare that you might not have had with your previous coverage. Here are 4 reasons why Medicare is great insurance and why you should love it.
Choices, choices, choices! A big reason why you should love Medicare is because it beats private insurance when it comes to choice.
When you have employer coverage, you’re stuck with the healthcare plan the employer offers you, with little to no wiggle room if you want to change plans. There can also be uncertainty in private plans about how much you’ll have to pay for deductibles, copays, and coinsurance.
That’s not the case with Medicare! There are 10 different Medicare Supplement plans to choose and you’ll know just how much you’ll be spending with each. You’ll be able to pick the coverage based on what’s best for your own situation, not stuck with someone’s idea of what’s best for you. And, if you’re ever unhappy with your plan, you can always switch coverage.
Premiums are Lower
With Medicare, you’ll save on your monthly premiums. Nearly everyone qualifies for Part A, which is premium-free, so you only pay for your Part B premium. In 2021, the Part B premium is $148.50. When compared to the cost of private insurance, you’ll find you’ll be paying a lot less.
Medicare prices also rise slower than other health insurance plans because they’re pegged to inflation. Private insurance claims have increased by 123% since 2013. How much have Part B premiums increased? Only 25%!
There’s Extra Help if You Need it
The government knows that for a lot of seniors, Medicare is their one and only option. So, they created Medicare programs to help people with limited income so they can get health coverage.
There are some state and federal programs that can help pay for Part B premiums, deductibles, copays, and coinsurance costs. The Part D prescription drug plan even has some income-based assistance program that aims to lower the cost of medication.
Free Preventative Care
Medicare also offers free preventative care services to those covered by the Part B plan. Here’s what these services include:
- One time “Welcome to Medicare” Preventative Visit – Within the first 12 months of your enrollment in Medicare Part B, you can schedule this initial check-up. During this visit, you’ll have your medical and social history reviewed, have vaccines, a vision test, height and weight measurements, a body mass index (BMI) calculation, a plan for future screenings, and referrals to specialists if needed.
- Annual “Wellness” Visits – You are covered for one free annual doctor visit at least 11 months after your first wellness exam, and then once a year after that. These visits will include services similar to your “Welcome to Medicare” visit.
- Vaccines – Part B covers vaccines for the flu, tetanus, pneumonia, hepatitis B, and COVID-19.
- Screenings – You’ll get free screenings for many things, but a few include:
- Cardiovascular disease
- Cancer screenings for lung cancer, cervical cancer, vaginal cancer, prostate cancer, and colorectal cancer
Get the Help You Need with Medicare
Medicare isn’t a perfect system, but it offers a lot of benefits and reasons to love it! If you’re not sure which path to take with your Medicare coverage, or how to choose the right plan, Signature Senior Solutions is committed to providing you the best service so we can help you find the perfect plan.
Signature Senior Solutions is located in Cave Creek, and services all of Maricopa County and Arizona. If you’re out of state, don’t worry, we have a multi-state license and can serve you too.