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Original Medicare, Part A, and Part B, which is provided by the federal government cover most of the medical care expenses which are considered medically necessary. However, the original Medicare plan does not cover everything. For instance, some services such as vision care, dental procedures, and prescription drugs are not covered. Also, on the original Medicare plan, one will have to pay copayments, premiums, and deductibles on their own.
There exist two other Medicare plans whose aims are to cover this gap. These two are the Medicare Supplements and the Medicare Advantage. They are a difference in what they cover and what their costs are. This makes it daunting to choose one between the two. Therefore, it is essential that one has adequate information on both before they can know which one to choose.
This plan is also referred to as Medigap. Medicare Supplement plan is provided by private insurance companies but works with the original Medicare plan which a person is enrolled. It is beneficial in that it pays for some of the expenses not covered by the original plan including deductibles, premiums or costs incurred in emergency treatment outside the country.
For one to be eligible for Medicare Supplement, they have to be enrolled in the original Medicare Part A and Part B basis. This is because the Medicare Supplement does not solely pay for all of a beneficiary's health care expense. It is the original plan that will cover such.
As stated earlier, Medicare Supplement will only cover some of the costs not covered by the original plan. Also, if the original Medicare plan does not cover for services such as vision care, then the Medicare Supplements will not cover expenses for the same services. Medicare Supplements plan does not provide a standalone cover for prescription drugs. Consequently, you will have to pay for your medication if you are not on the Medicare D Prescription Drug Plan.
There are ten types of Medicare Supplement plans namely; A, B, C, D, F, G, K, L, M and N. Regardless of all these plans having the same benefits, the premiums which are payable might vary depending on the one's location and the insurance provider they choose.
As much as one must be enrolled in the original Medicare plan, you will not receive benefits from the original plan. It is the Medicare Advantage plan which will cover your expenses as opposed to your original Medicare plan. This plan is also provided for by private insurance companies.
For one to be able to access the benefits of the Medicare Advantage plan, they have to be enrolled in the original Medicare plan. Also, those who wish to take this plan are not to have end-stage renal disease. Additionally, they must be residents of the area where the Medicare Advantage plan is located.
Some of the Medicare Advantage plans cover most of the expenses that would be covered in the original Medicare Part A and Part B. Also; this plan covers costs from some of the services not covered by the original plan such as dental care, hearing examination, and vision care. Unlike Medicare Supplement, most of Medicare Advantage plans also cover prescription drugs. However, they do not cover hospice care.
Given that one cannot be enrolled in both Medicare Supplement and Medicare Advantage, it forces one to choose one. As you make a decision, it is important to bear in mind what each of these plans covers. It will guide you on making the right decision for yourself.
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