Insurance: For Your Protection

Most people go through life hoping that something unfortunate does not happen to them. Nobody plans on getting in an accident, falling ill with cancer, or suffering a heart attack. But sadly, these things do happen to people. And as hard as it is to admit, there is a chance that one of these things could happen to you. That's one reason why medical insurance is so important. No, medical insurance won't stop you from getting hurt. But it will reduce your financial burden if you do happen to become injured or ill one day. We are happy to share more about medical insurance on this blog.

3 Reasons To Consider Medicare Advantage In Retirement


Are you approaching retirement? If so, you probably have some big decisions ahead of you. One of the most important is your health insurance coverage. As you get older, it's possible your need for medical care will increase. Having the right coverage is important to protect your health and your wallet.

If you're like many retirees, you'll have coverage from Medicare. Almost everyone gets Part A, which covers hospitalizations and emergency care. However, there are other parts of Medicare, like Part B which covers doctor visits, and Part D which covers prescription drugs. There are also things that aren't covered by Medicare, like physical therapy, dental care, and more.

You may want to consider a Medicare Advantage policy. Medicare Advantage is a program where private insurers offer their own policies that include traditional Medicare coverage, plus other protections. You choose the policy that fits your needs and budget. Below are three reasons why a Medicare Advantage policy might be right for you:

Cost flexibility. When you purchase your coverage directly through Medicare, your premiums and deductibles are set. With Medicare Advantage, you can choose from a wide range of providers and policies. Each has its own premiums and deductibles. For example, you could choose a policy that has low premiums and high deductibles. Or if you want to lower your risk of a high out-of-pocket cost, you could choose a policy with lower deductibles and higher premiums. You can find the policy that's right for your budget.

Added coverage. As mentioned, there are many services that aren't covered by Medicare. Medicare Advantage policies usually cover all the things that Medicare covers, plus additional services. For instance, under your Advantage plan, you could have coverage for dental, vision, hearing, physical therapy, and even mental health services. Every plan is different so be sure to check the coverage details before moving forward with a policy.

Expanded network. Since Medicare Advantage plans are through private insurers, you may find that they offer larger networks of providers than a traditional Medicare plan. In fact, an Advantage plan may let you stay with the same doctors you used under your employer insurance. If you have a specialist you really like, you may have a better chance of staying with them under an Advantage plan instead of through traditional insurance. 

Medicare Advantage could be right for you, but there are many providers and policies to choose from. Review your options carefully to make sure you get the right plan for your health needs and your budget. A Medicare Advantage advisor can help you select the right option. 


6 October 2022