How to Save Money on Healthcare Costs
Everybody wants to save when it comes to healthcare costs. If you recently received medical care, then you understand how quickly the bills can add up.
Finding ways to reduce these costs and spend as little as possible can be important, so consider the following tips and if they could be the right choice for you.
Shop for and Compare Medicare Plans
From Medicare Supplements to Medicare Advantage, there could be dozens of plans available in your local area. It’s important to do some research and understand your options so you can pick the right plan based on your location, needs, and budget.
With that in mind, comparing plans takes time. Consider working with an agent who specializes in Medicare health insurance. Your agent will have access to the top-rated companies in your state. He or she can help you compare plans and match you with the best policy and/or company that offers the best price.
Another reason to shop for plans is that the benefits and costs are different from one plan to another. Plus, the rates may increase each year. The best plan for you this year may not be the best one for you next year.
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Understand What Your Plan Covers
If you don’t end up picking the right health insurance option, or don’t know whether your plan covers a certain item or service, it could end up costing you money. For instance, if you need hearing aids but your plan doesn’t include coverage for them, you’ll likely pay for the hearing aids entirely out-of-pocket. Your plan should have a “summary of benefits” included in the packet. Refer to this.
Your agent can also help you make sure you understand what you’re buying before making a decision.
Have Limited Income?
If you have limited income and resources, don’t let that discourage you. You may be eligible to get help paying for some healthcare and drug coverage expenses.
Get Extra Help with Your Medicare Drug Costs
Extra Help is a program — offered through Social Security — to help people with limited income and resources pay Medicare drug costs. You may qualify for Extra Help if your yearly income and resources are below certain limits. Contact ABC Medicare to see if you qualify.
See If You Qualify for the Medicare Savings Program
The Medicare savings program pays a person’s Medicare Part B premium. Some people can get the state to pay their Part B premium for them.
Like the prescription drug Extra Help program, many people qualify and are unaware of it. The income limit for this is also higher than it is for Medicaid.
Medicaid
Many people qualify for Medicaid and do not even know it. Medicaid will pay little to no medical expenses.
For people who have Medicare and Medicaid, Medicaid will act as a supplement to Medicare. As long as they go to a provider that accepts both, they’ll usually have little to no copays. However, many people live in counties where a Medicare Advantage plan — known as a Dual-Eligible plan — is available (where they can get their Medicare AND Medicaid benefits). You can get extra benefits like dental care, hearing aid benefits, and so on.
Limited Social Security Income
These folks may qualify for additional income. We can help you find out if you qualify. And again, we don’t charge a fee for our services!
Seek Professional Help
There are other rules and factors that you should consider before making your Medicare choices. Our professional agents can help… Anything you share with us is protected by federal law. ABC Medicare can help:
✔ Make Medicare simple
✔ Analyze your situation
✔ Choose affordable coverage
✔ Avoid costly mistakes
✔ Save you time and money
You don’t have to do this alone. When you’re ready, you can request a FREE, one-on-one consultation. There’s no obligation to enroll.
