Is Medicare Select A Better Choice?



Medicare select is basically a low-cost version of traditional Medigap Insurance Policies. Everyone wants to find the cheapest and most affordable medicare supplement insurance plans. Well Medicare Select just might be the best route to go. The differences between Medicare Select and other medicare plans are, namely, in Medicare Select plans the individual is required to sign-up with your Medicares listed health provider, who is apart of the insurers designated network. Where as in original plans, the individual has a choice of doctor’s, and hospitals.

Original Medicare Plan

In these Medicare standard plans, when an individual purchases the plan they have more variety as to whom they want as their doctor or provider. Although, since these customer’s have a wider spectrum, the cost’s are typically higher than a Medicare Select plan. In this plan the entity can decide if they want supplemental coverage, and prescription coverage. These users have the choice of buying a Medigap policy from a private company. In prescription drug coverage the individual must join a plan that is run by private companies approved by medicare.

Medicare Select Plan

This plan is more limited and managed by your provider. In this plan the coverage provided to the person is by private insurance companies, who are approved by Medicare. In the majority of these Medicare Select Plans, the doctors, and hospitals are chosen by the insurance companies. A monthly premium and co-payment has to be payed to keep these services. Prescription drug coverage has to be purchased through the individuals Medicare Select plan. Medigap policies are not rendered to these users. In addition, if you are looking for a low-cost plan, Medicare Select is the plan, and if you want more options and variety, then standard Medicare plans are appropriate.



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