If Medicare alone leaves you to pay for too many of your health care needs, what can you do? When you are first enrolling in Medicare, you have your choice of both Medicare Advantage Plans and Medicare Supplement Insurance Plans to supplement Medicare. You can actually sign up for a Medigap Plan at any time, but you only get to do so without answering any questions about your health when you turn 65.
Medigap Plans make it simple to cover what Medicare doesn’t. For instance, when Medicare pays for 80 percent of your doctor’s fee, Medigap can pay the rest of it. If a doctor charges more than Medicare’s pre-determined rate, a Medigap Plan can pay for whatever Medicare fails to cover.
Medicare Advantage Plans or MA Plans are quite different. They cover the same health care as Medicare, so you can choose an Advantage Plan instead of Medicare. They also frequently add extra benefits to the original Medicare package. Some plans help with dental care, eyeglasses or hearing aids. Despite the extra coverage, MA Plans typically have low premiums. This year, plan premiums dropped by 7.2 percent on average. You may even be able to find Medicare Advantage Plans that cost you nothing beyond your Part B premiums.
With many years of experience helping people manage their medical bills, we can help you compare all of the Medicare Supplement Plans available in your area. Our help is confidential and there’s never any charge, either. Get to know us better by joining the next Question and Answer Teleseminar. It’s free to register here and then you can ask questions or just listen to what others are asking about both Medicare Advantage Plans and Medigap Plans.
Jim McFadden has over 11 years of executive-level experience in the health insurance industry, is a youth baseball, softball and football coach, and has one of the worst fantasy football records in the world.