Colorado Medicare Insurance Quotes
Turning 65 years old is a rite of passage to be celebrated. It is finally time for you to retire and reap all the rewards that you worked so hard to build. But before you sit back and enjoy your newfound ability to relax there is one more task important task that you need to deal with. You need to make choices about your Medicare coverage and collect the best Colorado Medicare insurance quotes you can.
Although Medicare and all of its choices may look complicated you will be happy to know that it really is not if you take it in small steps.
Step 1) Choose to keep Medicare Part B or opt out
When you first receive your Medicare Packet you will more then likely be automatically enrolled in Premium free Medicare Part A with an option of opting out of Medicare Part B if you want. If you sit back and do nothing then you will receive Medicare Part B and the premiums will be automatically deducted each month from your Social Security checks.
If you are already covered under a health insurance plan then you may choose to opt out of Part B but remember if you do then their might be penalties to enroll in Part B later.
Step 2) Choose Original Medicare or Medicare Advantage.
If you decide to choose Original Medicare then you will also need to purchase a Medigap policy and a Medicare Part D plan to go with it.
Although Medicare was created to cover as many health related issues as possible as inexpensively as possible it still has gaps that you could drive a truck through. A Medigap plan was designed to work with and compliment Original Medicare by filling in those gaps and paying for many of the expenses.
Unfortunately neither Medicare nor Medigap cover any prescription medications and if you need to take a drug regularly then you already know how incredibly expensive a trip to the drug store can be. To fill this particular need you will need to choose a Medicare Part D plan.
Medicare Advantage plans are health insurance policies offered by private insurance companies to those who are enrolled in the Medicare program. These plans do not work with Medicare the same way that Medigap does but instead work instead of. Each Medicare Advantage plan will be completely different from the other but share a couple of things in common. Each Medicare Advantage plan MUST offer ALL of the benefits available from Part A and Part B.
Step 3) Get quotes
Health insurance, including Medicare, can be expensive and although the different plans are regulated by the government the cost from one company to the next is not. No matter if you choose a Medigap plan or a Medicare Advantage Policy you will need to get Colorado Medicare insurance quotes for the best price.