Though it may feel overwhelming when you are faced with the most common questions to Medicare and Medicare Supplement Insurance, in truth, it doesn’t take hours of research to know what options are available to you.
The most commonly asked question is regarding the difference between Medicare Advantage (MA) Plans, and the Original Medicare. The fact is that there are a number of important differences between them. The original plan is government Medicare, whereas MA is private Medicare. The two plans involve comparable out-of-pocket expenses.
An MA plan is essentially the same coverage as the original Medicare service. However, with MA, some additional benefits such as drug coverage, eyeglasses, or dental care may also be included in some plans. It is important to note that MA is not the same as combining a Medicare and Medigap plan, nor including a Supplemental plan. An MA plan will not allow you to obtain a supplement plan to cover expenses that would be out-of-pocket.
Possible Medicare out-of-pocket expenses are also a common question regarding Medicare coverage. Though the coverage itself is extensive, there are several gaps in the protection it provides its beneficiaries. This leads many of them to fill those gaps with a Medicare Supplement policy. It can include services such as short-term skilled nursing home care, hospital room and board, and hospice care.
In order to minimize exposure to Medicare gaps in protection, Medigap insurance policies can supplement coverage. There are a limited amount of supplement policies for Medicare that are approved by that plan – For more online information you can go to medicare.gov.
Open enrollment dates for Medicare begin October 15th 2011 and will end on December 7th 2011.