Choosing the right insurance can be a difficult task, especially without the proper information needed to help make the right decision. Medicare offers several plans including Medicare Advantage and Medicare Supplemental to ensure all users of Medicare have a plan that fits their needs. A great deal of information is available to determine if Medicare Advantage or Medicare Supplemental is better for you.
Medicare Advantage are health plan options that are included in the Medicare program. In most cases, the plan holder will get his entire health care that is covered by Medicare through a Medicare Advantage plan. The Medicare Advantage plans also include coverage for prescription drugs. The types of Medicare Advantage plans include the following: Medicare Health Maintenance Organization or HMOS, Private Fee-for-Service Plans, Preferred Provider Organization or PPO, and Medicare Special Needs Plans. With the Medicare Advantage plans, lower copayments and more benefits are available. Only those who have Medicare Part A and Part B can join a Medicare Advantage Plan. Also, joining a Medicare Advantage plan will cause your Medigap policy, or Medicare Supplemental, not to work.
Medicare Supplemental, also known as Medigap policies, is health insurance that is sold by private insurance companies. The goal of Medicare Supplemental is to fill the holes in the original Medicare plan. The benefits of Medigap policies or Medicare Supplemental are that it helps to pay for the medical expenses that the original plan does not cover. Medicare Supplemental Plans offer 12 different policies or options, which is more than what Medicare Advantage offers to its holders. In most cases, you must have Medicare Part A and Part B to get Medicare Supplemental.