About Medicare Savings Opportunities

Ensure that you aren’t overpaying for your Medicare coverage.

Too many people enroll in Medicare and never evaluate their coverage going forward. This can result in overpaying for coverage and medications. There can be significant savings opportunities; review the information below and schedule a call if you would like our help with evaluating savings opportunities.

People enrolled in Medicare will fall into one of the categories below:

Original Medicare (Medicare Supplement and Part D Drug Card)

If the individual is healthy, they can explore a lower rate for the same Supplemental Plan that they have today (any time of year). The lower rate would be approved based on the insurance carrier determining that the person is “low risk”, because of their current health. Supplemental Plans (e.g. Plan N, Plan G, Plan F) and Federally regulated, and are therefore identical among all carriers. Senior Advisors can identify the lowest price for your plan among multiple, reputable A-rated carriers. Defining “healthy” begins with the ability to say “no” to the questions in this link.

There can be various discounts available simply for living with a spouse or roommate, or for having a spouse that is insured with the same insurance carrier. You want to ensure that you are benefiting from these types of discounts; it’s not uncommon for our team to meet new clients that should have discounts applied, but do not.

Part D Drug coverage should be evaluated every year, between 10/15 and 12/7. The “best” drug plan is determined based on the medications someone takes, and the plans available for the following year. The best drug plan will help the individual acquire their medications at the lowest price possible.

Medicare Advantage Plan (Part C)

They should be evaluating their plan every year between 10/15 and 12/7 to identify the best coverage for the following year. Identifying the best Advantage Plan incorporates the individual’s preferred Doctors, Hospitals, and Drugs, against the plans that are available for the following year. If this exercise was overlooked between 10/15 and 12/7, the individual can also be enrolled between 1/1 and 3/31.