When you are considering what type of Medicare plan or plans to buy, you need to consider many factors, including the items that Plan A and Plan B do not pay for. Instead of getting both plus a Plan D, and a Medicare supplemental policy, you should consider purchasing a Medicare Advantage Plan.
Public and Private
A Medicare Advantage plan combines the attributes of a government and private plan. When you purchase a Medicare Advantage plan, the government sends your benefits to the private insurer and then the private insurer charges you the difference between that amount and what their policy would cost. In some instances, the premium cost will be zero. Although the private insurer will have a yearly contract with the government, their costs and restrictions may vary from standard Medicare plans. For instance, these plans do not cover hospice care. You can choose from HMO, PPO, MSA, and other plan types, so you do have some flexibility.
Medicare Advantage policies can offer you more benefits than the traditional Medicare Plans A and B. For instance, some private insurers add routine vision, dental, and hearing benefits, items that the elderly may need more than any other segment of the population. Instead of having to own three policies, Medicare A, Medicare B, and a supplemental policy, you can have all these benefits in one. Also, you can get drug coverage through an advantage plan, meaning you do not need to purchase the Medicare Part D plan. The private insurance companies may impose their own restrictions, such as making you fill your prescription at a participating pharmacy, but many seniors find the convenience of owning just one policy instead of three or four to be a major benefit.
How much money you can save on an advantage plan depends on your particular medical situation. You need to carefully compare plans each year and check for network coverage, copays, and deductibles. You may not truly benefit from a zero premium plan because it might not cover all of your needs. However, for many people, the cost of one good Medicare Advantage Plan is less than what they would pay for the traditional Medicare plans plus a Part D plan plus a supplemental plan.
Before you decide on your Medicare coverage, take a look at the advantage plans. In many instances, purchasing one can simplify your life, improve your coverage, and lower your premiums.
For more information about a medicare supplement plan, click on the link http://scis.us or do an online search.