Understanding Misconceptions of Medicare
I recently read an article published by Senior Market Advisor that discussed some of the top myths of Medicare. I thought this would be a good article to pass along to our clients and followers. One of the top Medicare myths that we hear is "I can not change plans because of health issues". This could not be further from the truth.
Below we will cover the most common Medicare myths.
Medicare Myth #1: Health Issues keep me from changing plans. Medicare Advantage Plans and Guaranteed Issue Medicare Supplements are two widely used plans for individuals that have health issues. There are certain enrollment periods for those wanting to go into a Medicare Advantage Plan but the guranteed issue group retiree medical plan has no specific time frame for enrollments.
Get Medicare Supplemental quotes in seconds from Medicare Insurance Finders and speak with an advisor who can help you with your insurance questions.
Medicare Myth #2: Medicare will cover Long Term Care Expenses. Medicare will not cover custodial care expenses. Medicare will cover skilled care that is available after several days in the hospital, but custodial care is not covered by Medicare. A long term care insurance policy is what you need for those expenses.
Medicare Myth #3: Supplemental Insurance is too expensive. Medicare Advantage Plans offer $0 premiums in most states and in a lot of states more comprehensive coverage provided by a Medicare Supplement will be in the $100 range for those in their mid 60's. Go to Medicare Insurance Finders to get a Medigap quote.
Medicare Myth #4: My doctor won't accept the Medicare Supplement plan. If your doctor accepts Medicare he will accept the Medicare Supplement plan. Some doctors may not accept your Medicare Advantage plan but that is a reason to review the provider directory when enrolling in a Medicare Advantage Plan. There are different networks such as a HMO or PPO that have provider lists. Medicare
Myth #5: My coverage will not be as good as it was with my group health plan. Medicare provides excellent coverage to those age 65 or older or those on Medicare disability. Do not believe the Medicare myths that state that your coverage will not be as good as it was on your group health plan.