While regular check-ups can be costly, doing so helps ensure that chronic diseases are detected early. Early detection increases your chance of preventing costlier diseases from developing later in life. Thus, it helps save money and puts less strain on your Medicare, as well as the healthcare system as a whole.
Look around for prescription drug coverage that suits your needs.
Consider looking for Part D prescription drug plan to reduce your Medicare costs. But keep in mind that the cheapest plan available may not give you the best value. Talk to us about your options and we’ll be ready to help.
Consider getting a Medicare Advantage plan.
Another way to save money on Medicare is to get a Medicare Advantage plan (otherwise known as Part C). Private insurance companies offer it but before making the switch, you have to consider two things:
- Private insurers have defined networks. That means your preferred doctor might not be in their network.
- You might pay higher out-of-the-pocket expenses based on the amount you owe for certain healthcare services.
Thus, you have to understand policy terms before you decide which ones would best suit your needs.
Consider buying a supplemental insurance plan.
We all know that sometimes the best way to save money is actually to spend more and a supplemental insurance plan is a great example. Supplemental insurance plans help cover 20% of the cost not covered by your Medicare.
Start funding a Roth IRA.
Roth IRA is a great investment tool because your capital gains are tax-free. That is if you won’t make unqualified withdrawals. Not only will it help you save more money for retirement, but you can also use it to cover out-of-the-pocket Medicare expenses. So, invest in Roth IRA early and often to save money for your healthcare needs.
These are just some of the many ways that you can reduce future Medicare costs. Start early and you’ll surely reap the benefits later. Here at B.A. Jones Insurance Agency, we will help you find the best health insurance coverage that you need to supplement your Medicare. Feel free to contact us at (954) 431-9423 and get a quote now!