Medicare Plans 2020
Seniors who are 65 years old and above can enjoy many healthcare coverage options available to them. Unfortunately, the wide array of options can be overwhelming for some seniors. As a result, they have a hard time picking for the right plan that can give them the right benefits. Most of them will simply select a plan without knowing whether or not it is the right choice for them. Since our goal here is to help individuals in choosing the right plan, we want to discuss the most popular Medicare plans for 2020 that can surely help many seniors.
They may or may not help you but knowing how they work will give you a better, more informed decision.
What is Medicare Advantage
Medicare Advantage is powerful healthcare insurance. It can handle several medical expenses that most seniors will find essential and common.
They are expenses that some other plans will cover. However, no plan can rival the coverage being offered by Medicare Advantage. For that reason, it is touted as a higher coverage plan.
You can only purchase Advantage plans from private insurance companies. Medicare oversees these plans but it does not regulate its pricing. In that case, insurers can choose how much they would charge for their plans.
Despite the absence of standard pricing for these plans, Medicare Advantage plans must have the basic coverage that includes the following:
Medicare Parts A and B
Urgent healthcare services
Emergency medical services
Some MA plans can provide higher coverage, including standard coverage. But they have additional coverage for Medicare Part D. You can also find a plan that covers for hearing aids, durable prescription glasses, and routine checkups.
The plans are limited by the network where the insurer operates. Every insurance company in the US has a unique network of healthcare facilities, like rehab centers, doctor’s offices, medical professionals, etc.
No matter how wide the network coverage is of an insurer, its plans will be not honored by all healthcare facilities. That’s why there are limitations on their plans.
But to help you deal with network coverage, insurers have provided some plans that you can use for any out-of-coverage medical services.
One of them is the PPO Advantage policy. It gives partial coverage when you get treated off the network. But it pays full if you get treated within its network. It is useful for seniors who are living outside their carrier’s network.
Medicare Supplements (MS)
They are also known as Medigap or Medissups. These healthcare plans can fill in the coverage gaps created by Medicare. If you have an active Initial Medicare plan, you will pay for some copayments, coinsurance, deductibles and other healthcare expenses on your own.
However, the Supplement plans will cover all or most of those expenses. In other words, they are complementary Medicare plans for 2020 that you can add to your active Original Medicare plans. In that way, you can have a plan that will take care of your several out-of-pocket medical costs.
The items that Supplement plans cover will include the following:
Medicare Part A copayments and deductibles
Medicare Part B copayments and deductibles
Part A hospice coinsurance and Part B excess charges
Blood usage during surgery
Coinsurance for nursing services
Travel cost to foreign countries for emergency medical treatment
Medicare Supplements plans will cover some of these expenses, either fully or partially. For Plan G, for instance, it covers every item listed above but not the Medicare Part B deductible. But an Advantage plan will cover you fully for every item listed above.
Insurers cannot decide the coverage the plans will have, they can set their own prices for the plans they offer. The prices will change periodically. Thus, you must visit and use our free tool now and again to help you compare these plans.
We will give you a list of rates each time you perform a search for Medigap plans or MA plans. Within a few seconds, you will get what the prices are like for your area and find out which insurance providers offer the best rates.
Which Option to Choose
We cannot help you determine which plan is better for you since we do not know what your current situation is. However, we can tell you that the plans mentioned above can offer you benefits. When you compare the plans against your own needs, you will understand which plan will give you better coverage.
Although both plans are beneficial for any seniors, you cannot register for both MA and Medicare Supplement plans. You can only choose one because these plans overlap.
Since you already have an active Medicare plan, you are eligible to obtain one of these plans. However, if you are not sure whether you qualify yet, you must remember that Medicare Supplements are available for seniors who are 65 years old or above. you can enroll three months before your 65th birthday and three months after your 65th birthday.
This period is the open enrollment for this plan and you must take advantage of these times to guarantee that you will get the plan and receive the best rates.
Medicare Advantage plans are available only to seniors as soon as they turn 65. Enrollment can start on October 15 and end on December 7. This period is the same every year. If you missed it this year, you will have to wait until next year’s open enrollment period.
Compare Medicare Advantage for 2020