Medicare Advantage Plans are health plan options that are part of the Medicare program. If you join one of these plans, you generally get all your Medicare-covered health care through that plan. This coverage can include prescription drug coverage. Medicare Advantage Plans include:
- Medicare Health Maintenance Organization (HMOs)
- Preferred Provider Organizations (PPO)
- Private Fee-for-Service Plans
- Medicare Special Needs Plans
When you join a Medicare Advantage Plan, you use the health insurance card that you get from the plan for your health care. In most of these plans, generally there are extra benefits and lower co-payments than in the Original Medicare Plan. However, you may have to see doctors that belong to the plan or go to certain hospitals to get services.
To join a Medicare Advantage Plan, you must have Medicare Part A and Part B. You will have to pay your monthly Medicare Part B premium to Medicare. In addition, you might have to pay a monthly premium to your Medicare Advantage Plan for the extra benefits that they offer.
If you join a Medicare Advantage Plan, your Medigap policy won’t work. This means it won’t pay any deductibles, co-payments, or other cost-sharing under your Medicare Health Plan. Therefore, you may want to drop your Medigap policy if you join a Medicare Advantage Plan. However, you have a legal right to keep the Medigap policy.
Source: CMS Website
Medicare Supplements
Did you know that Medicare Supplements fill the gap in the Original Medicare Plan coverage, and that you can pay some of the health care costs with a Medigap policy? Understanding Medicare Supplement policies are vital in determining whether they might be beneficial to you and your family.
Medicare Supplements, also known as Medigap Insurance, are regulated by state and federal government as compared to other insurance products that are governed only by the state. It is important to know what Medigap Insurance can do for you before buying it.
The ABC of Medigap Insurance:
- There are 12 standardized Medicare Supplement Plans (from A to L) that cover all the states in the U.S.
- Each Letter Plan has a different set of basic and extra benefits.
- All insurance companies must sell Plan A and B as a rule of law.
- You can't be charged differently from someone else in a particular state for a Medigap Insurance policy. If you pay X amount for Plan J in New York, everybody else would be paying exactly the same amount in NY, regardless of their age or health condition.
- Medicare Supplements do not cover for your spouse's health care costs. You and your spouse must each buy separate policies.
However, if you are covered under a group health insurance plan, you need not buy Medigap Insurance at all. Also, keep in mind that not all plans are available in all areas of the state where you live.
There are several other factors that determine which plan fits your needs. If you need Medigap Insurance to cover your health care costs, speak with our reliable insurance specialists at (248) 559 5350, or email your requirements to qhcmedbill@aol.com and we will help you find the right health plan.