One decision that confuses most seniors after retirement is choosing the right Medicare plans. After enrolling into Medicare part A and B you need a good Medicare supplement plan. If you decide to only stay with your original Medicare there are deductible and copayments you have to deal with. It can cost you thousands of dollars every year to cover your medical expenses. Medicare supplement plans can help you save a lot of money.
How Much Does A Supplement Plan Cost?
It depends on your provider, the type of plan you choose and your location. But averagely a Medicare supplement plan cost between $50 to a few hundred dollars every month.
To get the most from your original Medicare it is necessary to choose a Medicare supplement plan that meets your health care needs. It is important that you conduct proper research before choosing any plan or company. 10 plans standard plan are available to choose from, from Plan A – N. Each plan with the exception of 3 states offers the same benefits nationwide. When you find a plan that suits your needs, you then compare the premium prices from different providers in your state.
You should choose a plan based on your health care needs not because the companies said their service is the best. Some providers offer foreign coverage while others don’t, your decision should be based on your requirements. The more benefits you get from any company the more the premium costs.
With all the benefits that come with Cigna medicare supplement, there is no drug coverage. You need to purchase Medicare Part D to cover your drug prescriptions.
After enrolling into original Medicare you have the option to enroll into either Medicare advantage or Medicare supplement plan. Medicare advantage covers Medicare Part A and Part B, sometimes also may cover part D for drug prescriptions.
Benefits Of Medicare Advantage.
* They offer all-in-one coverage.
* There are less premium costs. It’s less than that of Medicare supplement plans and out of pocket you’ll pay for part D when combined.
* Medicare advantage can cover health problems that are not covered in original Medicare, such as vision, dental care, and hearing.
The Cons Of Medicare Advantage.
* There are restrictions on hospital and doctor visits. you may have to visit only facilities in their network.
* If you want to visit a doctor or hospital out of their network, the cost is 100% on you.
* Any time you get medical treatment there is copayment.
Depending on your health care needs you should take time and compare between the plans, compare both Medicare advantage Vs Medicare supplement plans and original Medicare part A, B & D. If you have your own doctors you have to make sure they’re in your providers’ network before enrolling into any Medicare advantage plan.
You can’t enroll into both Medicare advantage and Medicare supplement at the same time. You should weight the benefits of each separately before buying any plan.
It’s not going be easy at the beginning but once you understand how the whole system works and the type of service each and every one of them offers, then things are going become easier for you if you know your health needs. There are lots of tools online that can help you to make a good comparison. Use tools from the official Medicare website or nonprofit organizations, it will take time but it’s worth it in the end. You should also seek advice from experts in your area to help you make the right decisions.