With nonstop ads on television and celebrities touting the “free” benefits you are missing from Medicare, it’s easy to get confused or feel like you really are missing something. h e reality is that there are only two ways to do Medicare.
First, there is original Medicare with a Supplement for Medicare Part A (Hospital) and B (Outpatient Medical). On this path, a person must add Part D (Drug Plans). The second way is a Medicare Advantage Plan.
Here’s the difference:
With original Medicare, Medicare pays all doctors who accept Medicare, which allows patients to see any doctor who takes Medicare. A Supplement follows original Medicare (Part A and B) and helps pay most of the deductibles and coinsurance, out of pocket expenses covered but not paid by Medicare. In addition to the Medicare monthly premium there are additional monthly premiums for the Supplements and the separate Part D drug plans.
On Medicare Advantage Plans (Part C), Medicare does not pay doctors directly. Instead, Medicare pays the Plan which in turn pays the doctors who are contracted with the Plan. This means that not every doctor participates in an Advantage Plan and it’s important to confirm whether your doctors are in the Plan’s network.
Additionally, Supplements only pay Medicare-covered expenses while Advantage Plans are allowed to add extra benefits such as dental, vision and hearing, and even give back some of the Medicare monthly premium.
There are advantages and disadvantages with each approach to Medicare, so it’s helpful to work with a local seasoned professional who specializes in evaluating these options to discover the path that’s right for you. Only then can you know whether something you hear is too good to be true.
For more expert advice, reach out to Marv Law with Health Bridge Insurance by calling him at 760-345-4705 or email him at [email protected]
