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The new year represents new beginnings, and gives us the opportunity to hit the reset button. As we turn the page to the new year, perhaps now more than ever people are looking forward to the next chapter. With 2020 in the rearview and significant changes in the healthcare landscape on the horizon, here are some tips to make sure you are getting the most out of your health insurance in 2021 and beyond.

The year is 1956, and Dwight Eisenhour has just been re-elected President of the United States. Rock and Roll has become a phenomenon, fueled by the wild popularity of Elvis Presley. The New York Yankees defeated the Brooklyn Dodgers 4-3 in the World Series, behind Don Larsen’s MVP performance, and the interstate highway system has been authorized, resulting in a long-term trend towards populating suburban communities.

If you are turning 65 in the next twelve months, you were among more than 4 million Americans born in the year 1956… right smack in the middle of the baby boom. Baby Boomers are often lumped into one generic group, but of course, each Boomer’s story is unique as are their medical needs.

Over the years, we have found Medicare members make a handful of the same common mistakes. These mistakes are easily avoidable, but can prove costly if made. At Burchfield Insurance we take the time to carefully walk our clients through the Medicare process and eliminate any surprises.

In the wake of COVID-19, telehealth has taken center stage. Doctor’s offices remain empty or at reduced capacity as elective procedures are put on hold. The spotlight has been directed towards telehealth services as an alternative to traditional avenues of care. With that, we have dedicated a post to highlighting the benefits of telehealth and the value it delivers.

As members move into the Medicare delivery system, they soon come to realize Original Medicare will not cover all of their medical expenses. Members are left with deductible, copayment and coinsurance responsibilities, with no cap on the amount of out-of-pocket costs they can incur over the course of the year. For this reason, nearly all Medicare members choose to add additional coverage, giving them predictable healthcare costs and valuable peace of mind knowing their out-of-pocket responsibilities fit their budget.

Although Medicare is very different from private insurance or employer coverage, it will be better in many ways! Premiums are substantially lower, you will have greater flexibility, your healthcare costs are predictable and you will find additional benefits aimed at keeping you healthy.

Healthcare Costs continued to rise in direct correlation to the rising cost of health insurance. For employers who fund health insurance programs and employees who contribute to the cost while also facing increasing out-of-pocket costs, reducing healthcare costs is crucial.

Employee benefits affect your bottom line. How? Well, most importantly, exceptional employee benefits not only attract exceptional team members but motivate them to greater productivity and encourage enhanced engagement and loyalty.