Medicare Confusion Medicare Supplement or Medicare Advantage Explained – Cary Nagdeman
Many turning age 65 are confused about Medicare and what it covers and does not cover. Telephone solicitations and TV commercials can be confusing
By: Cary Nagdeman.com
Telephone solicitors, Insurance Companies, HMO Organizations and Pharmacies all look to profit from filling the gaps in Medicare Senior Insurance coverage's. Many can not afford additional coverage's and many cannot afford to be without it.
To help you better understand Medicare comes in 2 primary parts, Part A hospitalization and Part B treatment outside a hospital. Technically there is no charge for Medicare Part A. It will pay 80% for charges incurred in a hospital. Part B has a monthly charge depending on income. The amount most pay enrolled in 2019 for Part B is $135.50/mo. Part B is deducted from your monthly Social Security payment, if not you pay directly.
Now the confusing part; Medicare Advantage (MA) or Medicare Supplement (Medigap) Insurance. Medicare Advantage is sometimes called Part C; MA plans are an all in one alternative to Original Medicare. They are different from Medicare Supplements offered by private insurance companies approved by Medicare.
If you join in a Medicare Advantage (MA) plan the plan will provide all of your Medicare Part A (hospital) and Medicare Part B coverage's. Depending on administration you will still be subject to the costs and deductibles for Parts A & B. In addition to Part B premiums you usually pay a monthly premium for the services included. Some people with end stage Renal Disease or select other terminal illnesses may not qualify for a Medicare Advantage Plans (MA).
Most Medicare Advantage Plans (MA) must cover all services offered by Original Medicare. In addition to your Part B Premium you usually a monthly premium for the plan's medical, drug coverage's and benefits such as dental care, eyeglasses and a wellness programs. Medicare Advantage enrollee's are still subject to Original Medicare's deductibles in some cases thousands of dollars of copayments, coinsurance, and deductibles. Before enrolling it is crucial to understand your exposure to possible additional expenses.
Medicare Supplement or Medigap Insurance is a plan offered through private Insurance Companies and are approved by Medicare. In many cases a Medicare Supplement Insurance plan pays the copayments, coinsurance, and deductibles that a Medicare Advantage plan may not cover.
What plan is right for you? There are many factors one needs to consider; cost preexisting health conditions and ability to pay copayments, coinsurance, and deductibles. No matter whether you enroll in a Medicare Advantage or a Medigap plan you must continue to pay your Part B.
The list of Medicare Supplement Insurance carriers is quite long. It is recommended you check out length of time in Medicare, complaints, rating and history of premium increases. Knowledgeable licensed Insurance professional who can help you understand coverage's and exposures is strongly recommended. Purchasing Insurance over the phone, television or online may scare you. Check references and years in business, your health is very important.
If you want to speak with a knowledgeable Senior licensed over 40 years ago who has pre existing health conditions contact Cary Nagdeman he is always willing to help educate and protect you. For more information call or go on-line https://www.CaryNagdeman.com.