Those who are enrolled in “traditional” Medicare are also eligible for a Medicare supplement, or Medigap plan, to help fill in the gaps associated with using Medicare only. Having Medicare works only to cover 80% of approved medical expenses; this leaves the other 20% to your responsibility. On the other hand, some choose to enroll in Medicare Advantage, also known as “Medicare Part C”. Generally, it is very important that older people can use the doctor they want. Often, they already have a doctor they have used in the past and are completely at ease, so they are unwilling to change doctors. “Traditional” Medicare is usually the most sought after plan of the two. Having Medicare accompanied by a Medicare supplement policy tends to provide the best and most comprehensive coverage for seniors. Although Medicare supplement plans are standardized on their offered benefits, Medicare supplement providers will have varying rates due to many influences. It is always advisable to investigate these major insurers before making a final decision.
Advantage plans characterized by choice restrictions under this type of plan, it is restricted to which doctors and hospitals you can use. For many, this fact is somewhat disturbing. For those who have been seeking the same doctor for several years, it is understandable that they are unwilling to change someone who is unfamiliar with them and their medical history. Seniors enrolled in a Medicare Advantage program are not eligible to enroll in a Medigap/Medicare supplement policy. For some, this may mean paying more long-term medical expenses. Now the hour has come for you or someone you love to sign up for Medicare. The mailbox will be filled with more reading material than that of a law student in their first year in college.
I will begin by saying this general statement. If people only take Medicare Part B, they will have big gaps in coverage. There is a large deductible, many coverages are 80/20 and the Medicare beneficiary pays 20% of the bill. There are also circumstances in which the provider (hospital or doctor) may charge the patient for amounts exceeding the Medicare allowance. You can choose a PPO, HMO, or Service Fee plan (any document), depending on what is sold in your zip code and your preferences. Some plans may be included in Part D coverage (prescription) while others may not. Some plans require an additional premium, but others do not. Some MA plans still reimburse part of the Part B premium that most Medicare beneficiaries have taken from their social security checks.