Maximizing Your MEDICARE

by Emily Hanson Hanson Insurance Agency

Essential Tips for Seniors to Navigate Health Coverage in 2024

Along with new resolutions, January also brings new health coverage for many of us. With all of the confusing calls, texts, emails, mail, social media, and television ads targeting seniors, it’s no wonder so many Medicare recipients end up on the wrong plan in January!

Or maybe you chose good coverage during the fall annual enrollment period, but you really don’t understand your benefits.

Here are a few tips to make the most out of your Medicare health insurance plan:

• Verify with your doctors and pharmacists that they are “in-network” with your 2024 coverage. Will your medications be covered by your plan?

• Locate and read your Summary of Benefits. This document is a contract between you and your insurance company and tells you what is covered and what you will pay for that coverage. For example, a primary care doctor appointment will cost you $0 and an urgent care visit will cost you $40. The Summary of Benefits will also list extra benefits you may not have realized you had included in your plan, such as dental or a gym membership.

• Put a reminder of important dates for the extra benefits on your calendar so you don’t miss out on them. Many Medicare Advantage plans include things like Over The Counter (OTC) credits that expire at the end of each month or quarter. These can be used to purchase things that you are already buying so you keep more money in your pocket. All benefits expire at the end of the calendar year.

The misleading commercials and ads on the Internet will continue. If you see something too good to be true, think twice before calling the number. Many of the WOW items advertised are only available if you have Medicaid (Texas financial assistance) along with your Medicare. If you call the number on the ad, you will be connected to an insurance agent (somewhere) whose job it is to convince you that you need to switch your plan for better benefits. Most of the time you are not able to speak to the phone agent again for help if you need them. A better idea is to call a local broker, who offers all of the major insurance options.

A FINAL BIT OF ADVICE: Do not give your Medicare number to anyone other than your doctor and your trusted Medicare broker, especially over the phone. That number is used to change your health coverage and, in the wrong hands, can lead you to medication coverage issues or an inability to see your doctors. Treat your Medicare number as securely as you do your Social Security number.