For the uninitiated, Medicare offers health cover to seniors, as well those with disabilities. This is a part of the federal program, and is cheaper compared to private healthcare programs. However, even Medicare comes at a cost, and the policy holder needs to pay for premiums, deductibles and services. The good news is that you can still be successful in saving money on Medicare insurance and here is a quick guide on how you can go about it.
Enroll at the right time
If you meet the Medicare eligibility cut-off, do make it a point to sign up on time. In fact, Medicare levies heavy penalties on Parts A, B and D for anyone who doesn’t get himself/herself enrolled during the specified time frame. The initial enrollment for this program starts 3 months before your 65th birthday and is open for 6 months after that. Those with corporate healthcare plans are entitled to a special enrollment period, which extends for 8 months after leaving their job.
Choosing the right healthcare policy providers
The first thing to check is whether your shortlisted healthcare provider participates in the Medicare Program, for example providers like Florida Blue are a part of it. For those subscribing to private health policies, it might be difficult to get their medical bills reimbursed, hence use your discretion.
Customize your plan per your needs
Medical needs vary from person to person, so you need to take a call on which component of the Medicare plan you would like to subscribe to (Part A through D). However, the caveat is that each component will come with its own costs. You can also go for a combination of Medicare components while customizing your health plan.
Free preventive screening
You will be happy to know that Medicare provides a number of preventive screenings free of cost. This includes blood pressure, cholesterol, depression, hepatitis C, HIV and cancer. It is advisable to take advantage of this facility, which would help catch any disease at its early stage, thus helping you to save costs in the long run.