How do I choose the right health insurance if I'm a senior?

Pick a lottery number.  You are kidding -- we’ve tried to do so and feel totally incompetent and we’ve done so with experts at our side. So if you’re a senior, you can try to choose the right health insurance by reading up on the various options and deciding which one meets your needs. Give yourself a few months (yes, it is that difficult) to evaluate plans and insurance companies to determine what they offer and for how much. Get quotes and compare rates. You want to do as much research as possible to figure out what plan covers the services you need at the most affordable price. Use resources such as the Association for Retired Persons (AARP), the U.S. Agency for Healthcare Research and the National Association of Insurance Commissioners (NAIC).

If you are interested in Medicare, you can also contact your State Health Insurance Assistance Program (SHIP). They provide free education and counseling about Medicare services and programs. Hopefully they will be better at it than I am.

There are several factors you need to consider when looking for health insurance. First, you should study the options that are available to you. You can call your local Medicare Helpline or SHIP program to learn more about options in your area. Also begin gathering information about yourself and your needs. Ask yourself the following:

-         How’s my health?

-         What types of prescriptions do I take?

-         What doctors do I see regularly?

-         How much do I travel outside the U.S.?

-         Am I eligible for health care coverage outside of Medicare?

-         How much did I spend on medical care last year?

-         How does health care fit into my budget?

Then, decide which Medicare plan (Part A or B or Medicare Advantage) is right for you. Both types cover the same basic services, but Original Medicare provides more choices of plans. Finally, enroll during the annual enrollment period and make sure your coverage starts when you need it to.