Which Health Plan is Right for Me?
Without a doubt, the Original Medicare program has given vital health coverage and even been a lifesaver to millions of Americans over the years.
But as good as it is, Medicare was never designed to cover 100% of your medical care. Although Medicare costs have risen almost every year since the federal program’s inception in 1965, Medicare benefits have declined over the years in many areas. As a result, there are real gaps in Medicare coverage and, therefore, a real need for other health care options to supplement or even replace Original Medicare.
Medigap vs Medicare Advantage
Both Medicare supplement plans and Medicare Advantage plans are optional plans offered by Medicare-approved private companies and available to people already enrolled in Medicare Part A (hospital) and Medicare Part B (medical). Both offer good comprehensive health coverage, but here are some ways they differ:
- While Medicare supplement (or Medigap) insurance by definition supplements your Original Medicare coverage, Medicare Advantange in effect replaces it and nearly always adds coverage in various areas of health including dental, vision, and hearing. Most Medicare Advantage plans also include prescription drug coverage.
- Medicare Advantage plans normally require you to see doctors and receive health care services within a restricted network. Medigap plans usually allow you to see a much wider selection of doctors and health care providers.
- Medigap policies usually charge higher monthly premiums. Some Medicare Advantage plans charge very low premiums or no premiums at all.
- Out-of-pocket costs are usually higher if you’re enrolled in a Medicare Advantage plan. Sometimes these costs are unexpected and hard to budget for. Medicare supplement plans generally make it easier to anticipate your health care costs. For example, Medicare Supplement Insurance Plan F, available in most of the country, covers all Medicare-approved costs not covered by Medicare Part A and Medicare Part B. Most seniors find it easier to budget consistently for coverage under Plan F than to face the uncertainty associated with Medicare Advantage.
Enrollment in Original Medicare provides health coverage you’ll need. Medicare Advantage plans and Medicare supplement insurance provide fuller coverage by filling gaps in Original Medicare and saving you a lot of money in the long run.
If you’d like to know more about Medicare health plans and how to save money on your health care costs, contact MedicareMall [link] now and one of our licensed, bonded representatives will be happy to answer any questions and to help you find the health insurance plan that‘s best for you and your wallet