Medicare insurance comprises four basic parts: Part A, Part B, Part C and Part D. For Americans of age 65 and above these parts provide basic coverage. Part A covers hospital care, B cares the Doctors and Medical Procedures and Part D covers prescription drugs. Though these plans cover most of the things, they don’t cover issues like co-pays, deductibles and other heavy expenses. This is where Medicare Advantage comes in. Also known as Part C, is one way of protection against the high cost of an illness or accident. There is also another option available for the same known as the Medigap coverage or Medicare Supplement Insurance.
The Medicare Supplement Insurance ensures individuals who purchase conventional Medicare against a large number of the extra costs a patient may pay. However, the Medigap charges a premium notwithstanding what the individual as of now pays for Medicare Parts A, B, and D.
Anytime you see your doctor or a facility that takes medicare, Medigap policies will always cover you. But, if your doctor doesn’t accept Medicare, then Medigap will not cover any of those costs.
A Medicare Advantage Health Plan (Medicare Part C) may give more help at a lower cost than original Medicare in addition to Medigap. Rather than paying for Parts A, B, and D, an individual would select through a private insurance agency that, much of the time, covers everything provided by Parts A, B, and D and may offer extra services. The recipient would pay the Medicare Advantage premium alongside the Part B premium much of the time.
With most of its services like surgery, lab work, and many others, the Medicare Advantage Plans are similar to other private health insurance plans. Each of them has its benefits and rules. Many of them provide prescription drug coverage. Some of them might just pay a part of the out-of-network care, while others cover the doctors that are in PPO or HMO network.
MEDIGAP VS MEDICARE ADVANTAGE
The Insurance company can not sell both Medigap and Medicare Advantage plans to the customers. It’s illegal for them. There are some things to keep in mind while choosing a plan. Visit here https://www.2020medicareadvantage.com for more quotes
CHOICE: The original Medicare and Medigap plans will cover for you if you go to any doctor that accepts Medicare, while Medicare Advantage policies may or may not cover any doctor who is out-of-network care, i.e. they limit you to the doctors within their policies. It is always advised to check whether the doctor or the hospital you want to go to is covered by your plan.
COST: The Medicare Advantage plan can cost you less and cover more services as compared to the Medigap plans that have a higher premium than the MA policies. But the Medigap plan could also result in the lower pocket expense as compared to some Medicare Advantage plans.
LIFESTYLE: The MA policies are often limited to a certain region. So if you’re someone who likes to travel throughout the year, then this might not be the best plan for you. Whereas Medigap covers all the states in the US. so if you’re someone who travels frequently the Medigap would be a better choice for you. It is probably not a better idea to decide the best plan for you all by yourself. It is always advised to get some help from an expert.