Costs for Medicare

Choose a Plan That Fits Your Budget and Healthcare Needs

• This may seem obvious, but it’s important to carefully consider your healthcare needs, budget, and lifestyle when choosing a Medicare plan.
• If you’re relatively healthy and don’t anticipate needing a lot of medical care, a Medicare Advantage plan with a low premium and limited benefits might be a good option. However, if you have chronic health conditions or expect to need more comprehensive coverage, a Medicare Supplement plan or a Medicare Advantage plan with more robust benefits might be a better choice, even if it comes with a higher premium.

Take Advantage of Preventive Services, Which Are Usually Covered at No Cost to You

• Medicare covers a wide range of preventive services, e.g., annual wellness visits, screenings, and vaccinations. These services can help detect health problems early when they’re often easier to treat, and they can help you stay healthy and avoid costly medical issues down the road.

Manage Chronic Conditions Effectively to Avoid Costly Complications

• If you have a chronic condition like diabetes, heart disease, or arthritis, working with your healthcare providers to manage your condition effectively can help prevent complications and reduce the need for expensive treatments or hospitalizations.

Consider Generic Drugs When Available

• Generic drugs are typically much cheaper than brand-name drugs and are just as effective. Ask your doctor or pharmacist if there are generic alternatives to your current medications.

Review Your Medicare Plan Annually During the Annual Enrollment Period to Make Sure It Still Meets Your Needs and Budget

• Your healthcare needs and Medicare plans can change from year to year. Take the time to review your coverage during the Annual Enrollment Period (October 15th to December 7th) to ensure it still provides the best value for your situation.