A common question people ask about Medicare plans is which are the best ones. What they may not realize is that there aren’t any best Medicare Plans for 2018. There is a plan that will probably be perfect for you, and you can find it if you look at what’s available and compare what those plans are offering to what you require out of an insurance plan, but to say that there is a best overall plan is simply wrong.
Each plan has its advantages and disadvantages. For example, Plan F offers the most coverage. No other plan can match it for coverage. On the downside, though, it is also the costliest plan. Finding the right plan is a careful balance between affordability and suitability. It needs to be a plan that covers you well but that also saves you money over the long run. It should cost you less to cover your medical expenses than it would be for you to pay them out of pocket, but that is only going to be possible if you find the right plan.
Determining Your Best Plan
We want to help you find the best plan for you. Your best plan will be different from someone else’s but if you could benefit from a plan, then there will be a best one for you. Narrowing down the most suitable plan from the list of 10 that are available may not be easy. It can be time-consuming and a lot of work, but it will be worth it, since choosing the right plan can save you hundreds and even thousands of dollars.
In order to get the plan that fits you best, you need to first determine what your needs are. You won’t know what plan you need until you look at your medical expenses and figure out how much you are paying out of pocket. How would you know if a certain plan will actually save you money if you don’t know how much money you are spending on medical care? So, you have to figure that out first.
You also need to determine how much coverage would benefit you. Look at expenses that are cheaper to pay on your own than to have covered. These would be uncommon ones or ones that are relatively inexpensive in your situation. You know your medical history better than anyone but your doctor, and you need to consult with your doctor to find out what your medical needs are now and for the near future. You will probably want to sign up for one of the coverage plans for a year, and you need to be planning ahead if you are going to do that. Try to figure out what your needs will be like for the coming year as far as medical coverage is concerned. Then you can find the best Medicare plans for 2018 for you.
Looking at Your Options
We don’t know what the best plan is for you. It’s different for everyone because everyone’s financial and medical situations are different. What we can do is give you some general advice on how to pick between similar plans. It is likely that your options will come down to a few different choices that are all very similar. You may be having trouble figuring out how to pick the right plan from those few choices.
Let’s look then at a few plans that share some similarities. Plan F is a full coverage plan. It covers you for hospice care coinsurance, Part A’s coinsurance, Part B’s coinsurance, nursing care coinsurance, Part A’s deductible, Part B’s deductible, excess charges for Part B, pints of blood and foreign travel exchange (up to 80%). That’s a full coverage plan.
Similar to it is Plan G, which will cover you for all of the above except for the Medicare Part B deductible.
Plan N is another similar plan, and it covers you for all the items we already listed for Plan F except for the Part B deductible again, the Part B excess charges and some copayments you have to pay whenever you visit the hospital or the doctor.
Other than that, these plans are identical, and you will need to compare their prices to find out which one is a good fit for you. You may not be able to afford Plan F and its full coverage, but Plan G and Plan N are very similar. You might save money by choosing one of them and just paying anything not covered out of your own pockets. You may find that the expenses they are not covering for you are minimal and easily affordable, at least more so than signing up for Plan F and its hefty premiums.
In order to properly compare the plans and find the best one, you also have to consider the rates from one provider to another. Plan F may be very expensive at one insurance company, but it could be markedly cheaper at another. If you compare prices on a single plan, you can find some great deals. Maybe then you can afford a plan that you previously thought you could not. You may save money on your insurance and be covered for all the medical expenses you need to be.
Just don’t fall for the trap that there is a best plan that you need to figure out. There is a best plan for you, and you can determine it by careful consideration of what’s available and what your needs are. You don’t want to go after a plan that everyone else is picking or that is the most popular. You should be looking for a personal plan that fits your personal situation.
The best Medicare plans for 2018 then are the ones that fit you well. They cover you where you need to be covered and fit into your budget without you having to make a lot of sacrifices.