Exploring Your Options For Medicare Health Plans
With so many different Medicare health plans to choose from, it is no wonder that so many Medicare recipients get confused about what type of plan is best suited to their needs. While it is always best to sit down with a Medicare insurance agent to discuss your specific needs, taking the time to further explore all of your options can prove quite useful in helping you to choose the type of Medicare health insurance plan that is right for you.
Option #1: Traditional Or Original Medicare Plans
Traditional or original Medicare is made up of two different types of coverage. Medicare Part A coverage provides you with coverage for any care you require in a hospital setting. There is no copayment associated with this coverage. Medicare Part B coverage applies to care you receive on an outpatient basis, such as your annual checkup or visits to a specialist. There will be a copayment associated with this coverage. Original Medicare coverage does not include coverage for prescription drugs, vision, or dental care.
Option #2: Medicare Supplement Plans
Medicare supplement plans are designed to work with your original Medicare health insurance plan. In other words, you will still need to maintain original Medicare coverage when choosing this type of supplemental plan. The purpose of these health insurance plans is to provide supplemental coverage for things that are not covered under original Medicare coverage. For example, many people choose to purchase a supplement plan to ensure they have prescription drug coverage. Medicare supplement plans also commonly cover the cost of any copayment associated with Part B coverage. This can make managing out-of-pocket expenses a bit easier for many people.
Option #3: Medicare Advantage Plans
Medicare Advantage plans offer the most convenient solution for many people. This is because, unlike supplement plans, advantage plans replace the need to continue carrying original Medicare coverage. This is because Medicare Advantage plans combine your original Medicare and your supplemental insurance into a single health insurance plan. This means that you will no longer be responsible for keeping up with two separate health insurance policies. Instead, you will receive all of your coverage from one single insurance provider. This can prove especially beneficial for individuals who receive a significant amount of outpatient care or who require multiple prescription medications every month since they will no longer need to worry about making sure out-of-pocket costs for these services are properly billed to their supplemental coverage. Medicare Advantage plans can also make managing the cost of your health insurance a bit more convenient since you will only be paying a single premium each month rather than paying two separate bills.
Reach out to an insurance broker to learn more about Medicare health plans.