2020 has been a year of surprises and hardships like our world has never seen before. But despite a pandemic keeping millions of people indoors and isolated from family and friends, life does go on. High school seniors are graduating in drive-through ceremonies.
Birthday parties are being celebrated with parades. And seniors are still retiring and learning to navigate their world post-workforce, even if they can’t enjoy one last day in the office.
Navigating health insurance in 2020 can be confusing, especially when you’re also worried about the current global pandemic. Keep reading to learn what you need to know about Medicare and supplemental insurance during COVID-19, and how to protect your health as you transition to retirement.
Insurance During COVID-19
Since March, more than 5.5 million people around the world have contracted COVID-19, according to STAT News. While this pandemic is a threat to anyone, regardless of age, it’s particularly scary for adults over the age of 65. The CDC has advised that older individuals and those with underlying medical conditions take extra precautions to avoid contracting the virus.
Medicare does cover lab tests for coronavirus, as well as any hospitalizations if you contract the virus. Many insurance providers are also offering additional support to help during this time, like mental health services or waived co-pay fees for additional tests. If you do fall into one of the high-risk groups, you can arrange to have your regular prescriptions delivered to your door. Telehealth also makes it easy to visit your primary care doctor for mild medical care, like treatment for colds or check-ups for existing conditions.
Understanding Modern Medicare
Retirement is an exciting time for many reasons. Unfortunately, it can also be stressful. As you leave your career behind, you also lose the protection of a steady paycheck, insurance, and other benefits. But with some smart planning and a thorough understanding of your options, you can navigate the transition and protect yourself and your loved ones.
For instance, while most retirees feel that their medical needs will be covered by Medicare, many don’t realize that there are actually several different parts to Medicare that cover various needs, from basic doctor’s visits to prescription drugs and everything in between.
There are four distinct parts of Medicare. Parts A and B are what most individuals will recognize as traditional Medicare coverage. These parts provide coverage for inpatient and outpatient care and hospital visits. But because individuals have different medical needs, the other two parts of Medicare (Parts C and D) provide additional coverage beyond the basics, like prescription drug and dental coverage.
Plan for Anything
Choosing the right coverage beyond the basics can help protect you from the unexpected. Now more than ever before, it’s important to make sure that you’re covered if you get sick while on the go, if your good health takes a turn, or if you need to visit a specialist. A Medicare Advantage plan (also known as a Part C plan) usually includes the benefits of Medicare Parts A, B, and D. The Medicare PPO plan from Anthem helps retirees get the coverage they need while at home or on the go as they transition out of the workforce.
Navigating Health Insurance in 2020
Navigating health insurance in 2020 doesn’t have to be a challenge. By understanding your coverage options and taking advantage of additional services to help you stay safe and healthy during COVID-19, you can protect your health as you begin enjoying retirement.