Medicare Choices: The Hidden Costs of Low Premiums

I saw a comic-book illustration of an older patient being examined by his doctor. The doctor said, “I want to take your blood pressure… so try not to be interested in your medical insurance premiums.” It was such a perfect line. I laughed a bit. If you mention Medicare premiums, I guarantee that the person you are talking to is not likely to be smiling at you.

Medicare Choices

We all know that paying for medical insurance is not something we enjoy, but it’s important. Today, it is essential to have a medical insurance plan that will protect us financially in the event of a catastrophe or a dire prognosis. Medical protection is a necessity for everyone, regardless of age. Medicare Complement plans (also known as Medigap plans) or Medicare Benefit Plans are some of the options that an individual can review to help cover costs not covered by Medicare. In this instance, let’s focus on Medicare Complement Plans.

Blue-to-blue Might be an Option for You

Medicare options can be confusing for retirees and those 65 years and older. Blue Cross NC (Blue Cross NC), Blue Cross North Carolina, understands your challenges in finding the best value and flexibility for you and your hectic lifestyle. Blue Cross NC is stepping up to the plate, as they understand the importance and urgency of these challenges. Blue Cross NC Medicare Complement Members could access benefits that most competitors don’t offer. Blue-to-Blue, as we call it, allows Blue Cross NC Medicare Complement members to switch from one of our current Medicare Complement plans to another without any underwriting. All year round, members can switch plans at specified times. Members can always have the Medicare Complement Plan that best suits their needs and budget. Blue-to-Blue allows members to switch to a more economical plan, or one that offers benefits better aligned with their medical needs at this time.

You may be thinking, “That’s great, but what if I do not want all these options and would like a plan at a lower price?”

Check out the High Quality in addition to Price

The decision a person makes about how to use Medicare can have a significant impact on the quality of protection that they choose, but also the amount of money they save over time. This is especially true for those who live on a fixed income. It is important to consider the plan you choose, as it will affect your income and how much money remains after paying all of your monthly bills.

It’s important to determine if you will benefit from the insurance plan and provider you choose in the short term or if it will be beneficial over a longer period of time. This is important because some companies that offer Medicare Complement plans price plans at an artificially lower fee. That means the plan will start off at a much lower rate than their competitors initially, but then increase dramatically over time. This strategy works to attract new customers who always choose the least expensive plan. What usually happens is that every few years the firm will close that book of coverage options, locking in that member to that plan at higher rates. The same company will open a new book of plans with a lower fee in order to attract new members. Over the course of that time, it is safe to assume that annual fees will have increased by a double-digit average. A person 65 years old or older, who may already be living on a very tight budget, now has to decide how much they will pay for an insurance plan that could have doubled in value without their fault.

Switching is dangerous

If they leave their current insurance provider, they risk having to go through the tiresome process of underwriting and answering a lot of questions about their medical history to determine if they qualify. If you are a retired person, you may already be dealing with some serious health issues.

You want to switch carriers and plans to save money, but you need to answer health questions to determine if you’re eligible. You’ll almost certainly be rejected. You are in a situation where you can’t win. Either you stay with your current provider and pay more money or pay high premiums for a policy that doesn’t meet your medical needs. You should avoid getting trapped in a policy where you just keep your fingers crossed and hope for best. Nobody wants to be in such a situation.

Medicare Complement Offers You Choices

Blue Cross NC makes it easy to be. You can have more say in choosing the best plan for you. Retirement should be one of the best days of your life. You can enjoy your retirement with more peace of mind and security if you’re in control of your Medicare Complement coverage and how it affects your finances. This time is referred to by some as the golden years. Blue Cross NC says these aren’t years to be afraid of, but rather years to cherish and treasure.

Blue Medicare Complement Plans are not affiliated with the U.S. government or federal Medicare program.