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Finding the right medical insurance isn’t just a question of how much it costs. It’s also a matter of finding a plan that meets your unique health needs. Getting that balance right can be a challenge.
The first obstacle you’ll hit is all the technical terms around insurance. What is Medicare Advantage, exactly? How does it differ from standard Medicare? What do all these plans mean? And these questions only scratch the surface. After that, most folks will be looking for a sensible way to choose from the many available products.
So, let’s rip the Band-aid! In this quick guide, we’ll give you the information you need to begin the process of finding the right medical insurance for you and at the right price.
UNDERSTAND MEDICARE AND THE MEDICAL INSURANCE LANDSCAPE
If you’re feeling a little daunted about how Medicare and Medicare Advantage work, we understand. The system can indeed feel a little impenetrable at first glance. Fortunately, Medicare does a fantastic job of describing how medical insurance — and Medicare and Medicare Advantage in particular — work in the US.
The Medicare website is an excellent place to begin. Here you’ll find a neat summary of what Medicare is, who it’s for, and how its various sections are divided up. Our advice is that you start your detective work by grabbing a coffee and spending a half-hour familiarizing yourself with the U.S. medical insurance landscape.
Spend a little time looking into Medicare Advantage as well, because it’s a useful window into understanding how Health Maintenance Organization (HMO) plans and Preferred Provider Organization (PPO) plans can link with Medicare.
THINK ABOUT YOUR LIFESTYLE AND HEALTH NEEDS
Knowing how the various pieces fit together is half the battle, and it gets more accessible from here. An excellent next step is to think carefully about your health and your particular medical requirements.
Three useful questions to ask yourself are:
- Do I have any upcoming health procedures or challenges? If you know you have significant health interventions in your near future, these should be front and center of your thinking as you shop around for the right insurance plan.
- Are there any specific health risks I should be thinking about? Depending on your age, your gender, and your family history, you may be at higher risk of some health conditions than the general population. To help you understand your health risks, MedlinePlus offers this useful collection of health check tools. And of course, it’s always a great idea to consult your family doctor.
- What medications do I need? If you have ongoing pharmaceutical requirements, these should factor into your decisions surrounding prescription drug coverage.
SHOP AROUND
Now that you’re adequately equipped with knowledge about how insurance works and have some clarity around your unique health requirements, the process of deciding on which coverage is right for you becomes significantly more achievable.
To begin your research on specific plans, take a look at Anthem’s Medicare Advantage comparison tool. This resource offers a simple and effective way to filter for plans that offer great coverage for you, and at a low cost.
YOU DON’T HAVE TO FEEL DAUNTED BY MEDICAL INSURANCE
Yes, it can feel a little daunting at first, but when you break the question down into smaller parts, it’s not so hard to find excellent medical insurance at a price point you can afford. If you know where to look, a little bit of research and reflection can go a long way. We’re confident this quick guide can set you on that path.
