Advertiser Disclosure

How To Draw A Comparison Between Various BCBS Medicare Plans

How To Draw A Comparison Between Various BCBS Medicare Plans Finance

Medicare refers to the health insurance plan created by the Federal government back in 1965. It consists of two parts – Medicare Part A (hospital coverage) and Medicare Part B (medical coverage). For Medicare to cover your health care services, you need to ensure that you receive treatment from doctors or hospitals approved by Medicare. Blue Cross Blue Shield Association (BCBSA) consists of 36 Blue Cross Blue Shield (BCBS) companies providing health insurance across 50 states and to over 106 million people. The association also provides licenses to independent companies to use their name and trademarks in certain geographical areas.

BCBS offers a wide range of Medicare Plans that vary from state to state. It is important that you draw comparisons between various plans and pick one that covers your needs. Here are five questions you need to ask yourself when drawing comparisons.

How much monthly premium are you willing to pay?
The answer to this question is extremely essential in order to purchase the right Medicare plan. There are two options here. First, a Medicare plan that charges a lower premium in exchange for paying copayments or out-of-pocket costs. Second, a Medicare plan that charges a high monthly premium with little or no out-of-pocket costs for services.

How much are you willing to pay out of your pocket for services?
The logic here is simple. The more you spend on services and supplies approved in a Medicare plan out of your pocket, the lesser premium you will have to pay.

Do you want to opt for prescription drug coverage?
Not all Medicare plans by BCBS provide prescription drug coverage. Look for plans that combine this benefit especially if you have a condition that requires you to take prescription drugs very often.

Do you travel a lot?
Choose a Medicare plan depending on how often and how long you travel. Each plan provides different travel benefits.

How important are wellbeing services to you?
If it matters a lot to you, pick a plan that covers wellbeing programs and services.


Six Retirement Income Sources For A Peaceful Living

Whether you are planning to retire in the next few months or years later, it is important to ensure that your investments are secured and that you end up receiving a permanent source of income after retirement. Here is a list of six to ponder about: ...
Auto Loans

Companies That Provide Fast Bad Credit Auto Loans

It is not necessary for bad credit to hold you back when you think about getting approved for a car loan. Bad credit is just a temporary phase of life for many people. If you are a person with bad credit looking for an auto loan, you will just need t...

Three Best Identity Theft Insurance For You

The insurance for identity theft is provided by most of the major ID protection services. However, what the policy would cover would most definitely differ from one company to another. Most of the times, the costs associated with reclaiming your iden...