At the beginning of the annual filing period, it is a good time to examine the difference between Medicare Supplements, Original Medicare, and Medicare Advantage. Let us begin with original health care. This is a federal government policy for people over 65 (i.e. you can be eligible if you are below 65 and if you are disabled). It is a good policy, but it does not cover everything. There are “loopholes” in the policy. As for Medigap insurance and Medicare supplements, they are the same, designed to cover the “loop holes” of Medicare.
Medicare supplements are provided by private insurance companies, but unlike individual policies for children under 65, they are the same with any insurance company. That is to say, “Policy G” is similar with United National Life as with Blue Cross and Blue Shield, as it is with Mutual of Omaha. So, there is no need for you to think straight, Aetna’s policy is better or Blue Cross is better insured, they are the same. Now, there are several policies that provide more or less insurance. For example, “Policy F” insures almost everything. Policy G insures everything except the outpatient deductible, which is $ 162. Obviously, the larger the insurance, the more you will pay in the premium plan.
Let us talk about Medicare Advantage plans. Medicare Advantage policies are sometimes called MA policies. These are also offered by private insurance companies, but are financed by the federal government. These policies vary from county to county in terms of supply and premium. In some counties, you can get a premium policy for $ 0. Some are $ 100 for the same policy. A policy could be offered in Illinois, Will County, but not in DuPage County. Sometimes, it can vary up to that point. Often the maximum available is significant. Some policies cost $ 6,700, while others cost $ 3,000 from your pocket. This is perhaps the most important question I should ask myself: what is my maximum money on this policy? So I could pay it if something happens.
Doctors and hospitals, even with the Medicare supplement, accept the policy when they accept Medicare patients. With an MA policy, depending on the policy, the doctor could treat it today and not treat it the next day (usually with a PFFS policy). In my opinion, a supplementary Medicare policy is better insurance in every situation; however, the premium can sometimes force you into a state health care policy. If you only have Original Medicare because you cannot pay the premium for a supplement, then the MA Policy is an excellent way to proceed. Medicare Advantage policies are often referred to as Medicare Part C.
Prescription drug policies are known as Part D policies. Some MA policies are provided with Part D, commonly known as the MAPD Policy. Additional policies are not provided with part D and must be added. Before buying a Part D policy, you should ask your broker which Part D policy is best for you. Each of them is slightly different either by classification of the drug or by premium.