Medicare insurance is the way through which all seniors across the United States can pay for their medical care. But the range of options available and the different components of the Medicare system can be complicated. So, within this latest post, as a trusted Medicare agent, we’ll explain the facts about Medicare Supplement insurance.
- Medicare Advantage
The Medicare Advantage program allows for supplemental coverage of elements that might not be covered under an existing insurance policy. The program is offered through private insurance companies to which the beneficiary pays monthly premiums over a period of time. The premiums range in cost depending on the person’s age and their current health. One of the main benefits of applying for Medicare Advantage is the program can eliminate many of the costs associated with the common Medicare program.
- Medicare Supplement
The Medicare Supplement program – also referred to as Medigap – is an extended coverage option offered through a Medicare agent, which will cover treatments not covered through Medicare or an existing private health insurance policy. It’s important to note that you may not be able to get Medicare Supplement coverage if you are under 65 and have Medicare because of a disability. Your eligibility is usually location dependent. Another element to keep in mind is that the Medicare Supplement plans don’t include prescription drug coverage. You will have to apply for Medicare Part D in order to have your prescription costs covered for the years ahead.
- Managed care plans
One further option within the health insurance marketplace is managed care plans. These plans are available through HMOs (health maintenance organizations) and while they may be more affordable than the plans offered through Medicare Supplement and other programs, they do place limits on the type of care for which the beneficiary is eligible. For example, many patients find that their managed care plan doesn’t provide coverage at specific hospitals in their area, which can cause confusion and additional costs when care is required.
Good & Associates
Our team at Good & Associates is here to guide you as a qualified Medicare agent. To discover more about your healthcare options, call today.