Medicare Advantage Vs Medicare Supplementby Dorano V. Professional PR since 2010
Before the Medical advantage plans for 2020 takes effect, let us compare this two Medicare coverage options so that you can be sure to choose the best for you if you are turning 65 before the end of 2019, because after the Medical advantage plans for 2020 then things might be a bit different.
By now you most probably all know that Medicare alone cannot be able to cover all your medical costs. In order to close the gap, a lot of beneficiaries usually purchase additional medical insurance. Any of the two options will reduce your expenditure when it comes to covering medical costs. But which one is the best, I will leave that to you in order to be the judge.
These two options are a perfect addition to your Medicare coverage but how they work is completely different. To start with, if you opt for Medicare supplement plan (Medigap) you will still get to keep your original Medicare but if you opt for the Medicare advantage plan, you will be replacing your Medicare and you will no longer enjoy any benefits from your Medicare. You will also need to use the network of the plan unless it is an emergency.
Features of Medigap
· If you opt for a Medigap option, you can be sure of seeing any doctor in the country because they usually don’t have a network. Any healthcare provider who accepts Medicare assignment will be happy to help you. And since there are like 10 types of Medigap, the amount of money you pay out of pocket for services will depend on the plan you choose.
· No claim file. When enrolling for Medigap, there is usually no claims for you to file because you supplement carrier will simply inform Medicare that you have enrolled for a supplement plan.
· Guaranteed renewable. Once you enroll, your coverage is guaranteed and nothing is going to change about that. You will also have national coverage and any emergency you might get while you are traveling.
· You can add coverage for medications. The plan only covers medications that are administered at the office of the doctor. But you can still get medication from the pharmacy using the plan, for that you will need to enroll for a standalone plan D. Plan D is quite affordable as you will be required to pay about 20 dollars per month.
· You can enroll at any time. Enrolling for Medigap is very easy especially if you enroll during your open enrollment. There are usually no waiting periods but if you enroll out of your open enrollment period you will have to answer some health questions.
As you can confirm, Medigap is very flexible, because of that, the monthly premiums are higher compared to the Medicare advantage plans. They range from 90 dollars to 160 dollars.
Features of Medicare advantage plan
· The monthly premiums are lower compared to Medigap.
· Network providers. Once you opt for a Medicare Advantage plan, you will have to stick to the network of your plan. You will use their hospitals, doctors and pharmacies. You can be sure of choosing your favorite doctor and drop one if you want to change. The Medicare advantage plan usually pays your medical bills, not your Medicare. This means that you will still need to pay for your Part B premiums.
· Most Medicare advantage plans include prescription drug coverage. Note the use of the word most. This means that you should always make sure that the Medicare advantage plan you are about to enroll actually provides this service or not. You might up choosing a plan that doesn’t cover medications and am sure you don’t want that do you?
· Specific enrollment period. Medicare Advantage plans have specific times for enrollment and if you don’t enroll in those time you might end up having to wait for the next year.
· Out of pocket maximum high. As of this year, the amount is 6700 dollars. If you get seriously ill and end up spending more than 6500 dollars, the plan is going to cover for the additional cost.
Created on Aug 2nd 2019 12:31. Viewed 379 times.