Will Medicare Advantage or the Medicare supplement save me more money?
When you are nearing the qualified agefor Medicare, you should begin to review your options to find the rightcoverage for you. Basically, there are two routes to Medicare: OriginalMedicare (Part A and B), which can be offered with a Medicare Supplement Planand a Medicare Part D Plan for Prescription Drugs or a Medicare Advantage Plan,of which Most Part D prescription drugs is included. The best for you dependson your unique financial and health situation. Quotes for 2019 can be located here www.medicareadvantage2019.org/aarp-medicare-advantage-plans-2019/ for medicare advantage.
How does Medigap plans work?
Under Original Medicare, you may have to pay the deductibles for Part A and B, as well as the coinsurance amounts for most of the benefits covered in Part B. You may also have a Part A coinsurance if you are hospitalized more than 60 days. The cost of the original editions is not limited by Original Medicare. Therefore, if you have a serious medical problem, you may incur significant costs.
Medicare Supplemental Plans, also known as Medigap plans, cover some or all of your pending costs under Original Medicare. Depending on the plan you choose, you can get coverage for the first dollar, which means that you generally do not pay for covered out-of-pocket expenses.
You are paying an additional monthly premium for your Medicare supplement plan, and it is important to know that these plans do not cover the cost of prescription drugs, including those prescribed in Medicare Part D. If you think you want a Medicare supplement plan, it is very important that you register as soon as you are eligible. If you wait, the coverage may be denied depending on your health status.
How does Medicare Advantage work?
Medicare Advantage plans are createdby private insurance companies under contract with Medicare. You must provideat least all of the benefits you would receive from Original Medicare, with theexception of Hospice Care, which is still in Part A. Most plans, however,include additional benefits, such as: of routine and dental care not covered byOriginal Medicare. In addition, most plans also cover Part D coverage forprescription drugs. There are lots of varieties when it comes to Medicare Advantage policies. Some may require you to use network providers and receive referrals for specialized care. Others may cover all providers, but are cheaper if you patronize the providers preferred by the policy. Most policies use a co-payment structure that implies you pay a fixed amount each time you visit a doctor, for example, $ 10.
In addition to your co-payments, youcan also have an annual deductible. Medicare Advantage plans have an annualspending limit. Your plan pays 100% once you reach this limit. The limit variesfrom one plan to another, but cannot exceed the limit set by Medicare everyyear. If you enroll in Medicare Advantage, you will be required to pay your premium for Medicare Part B plus any extra premium needed by your policy. You may be able to sign up for a premium of up to $ 0 in your region, which means you will only pay the normal premium for Part B of your Medicare Advantage plan.