Medicare Vs Medicare Advantage 2020
Medicare Advantage is a cost-effective plan designed for many seniors. How it compares to the Original Medicare plan will be discussed in this post. By reading this information, you get to know more about how the basic Medicare plan will cover your medical expenses. With this information, you can decide whether you need to get additional coverage from Medicare Advantage. Indeed, the Medicare Advantage plan is a valuable policy. But before you decide, make sure to compare Medicare vs Medicare Advantage for 2020. In this way, you will know how these two can give you coverage.
The Cost of Medicare and Medicare Advantage Plans
Medicare and Medicare Advantage plans provide different coverage. Many seniors consider that these plans have a wider price difference from one another.
Original Medicare has a few expenses that you must handle. For example, Part A has a premium rate that you need to pay. But you may obtain a free plan. The Part A premium will depend on how long you paid Medicare taxes for. In addition to that, you also have to pay Part B premium, its deductibles, and copayments.
As you compare Medicare vs Medicare Advantage 2020, you will know how the price can affect the overall value of the plan. Keep in mind that Advantage plans can give you more coverage than Original Medicare, even though they will cost more. Although you can find a plan with no premium, you will face a lot of out-of-pocket expenses. Free premium comes with high deductibles. If you obtain a high Medicare Advantage premium, the deductibles are quite lower.
Our website can help you look at the prices of these plans. You may request as many quotes as you can to study the offers of many insurers selling these policies. Keep in mind though that the rates of these plans can change any time. Thus, make sure that you have updated rates before you choose a policy.
Since the government agency sets the price for the basic plan, the rates are the same no matter where you live. However, the Medicare Advantage plans have different prices as every insurer offering them set its price. In other words, Original Medicare has a standard rate while MA has different rates depending on the insurer and where you live in the country.
The Different Coverage of the Plans
Original Medicare covers inpatient and outpatient expenses. It includes Parts A and B that handle doctor and hospital services. This basic plan can manage several medical tests, hospice care, nursing care, hospital stays and a lot more. But you also need to take care of excess charges, coinsurance, copayments, and deductibles.
Because of these high out-of-pocket expenses associated with Original Medicare, many seniors choose to obtain Medicare Advantage to take care of these expenses. Although hospice care is not included in the MA plan, this policy can take care of the rest of the Original Medicare. But it does not stop there as it adds more coverage for urgently needed treatment and emergency medical services. If you want more protection, you can look for MA plans with Part D. You can also find plans that cover the cost of vision, hearing and general wellness checkups.
Medicare decides for the locked-in coverage of Original Medicare. But with a Medicare Advantage policy, you will receive guaranteed basic coverage and more. In other words, Advantage plans can give more coverage than Original Medicare. And it is the same even if you obtain the standard Advantage plan.
However, Medicare Advantage plans have restrictions. You cannot use your MA plan on any healthcare facilities in the US. Insurers have their own network of healthcare facilities. These facilities accept their plans. If you get treated in one of its partners, you will get full coverage for that treatment under your plan. On the other hand, if you receive treatment outside the network, you can only have partial coverage or no coverage at all. If you pick an MA PPO plan, you can receive treatment off network and get partial coverage.
Original Medicare, on the other hand, will allow you to use your plan on any healthcare facilities as long as it honors Medicare. You are fully covered.
Are You Qualified
Before you decide to obtain one of these plans, make sure that you are even qualified to get one. If you are 65 years old, you are automatically enrolled in Original Medicare. But you must have paid your Medicare taxes. If you are not registered automatically, you may call Medicare to sign you up manually. But never wait before you sign up. After you have achieved the eligibility requirements, make sure that you register. Otherwise, the plan will cost you more in the future.
For Medicare Advantage, the enrollment can be a lengthy process. One of the requirements is that you have an active Original Medicare. Then, you need to be at least 65 and a US citizen. Furthermore, you must reside in the coverage of the insurer you wish to sign up with. For example, if you are planning to sign up with Humana Medicare Advantage plan but you live in an area where it has no network coverage, then you cannot sign up for its plans.
That’s why you must examine all your options before you even decide on which healthcare plan to pick. Both of them have pros and cons. You need to weigh them all before you can pick the right plan that offers value to your money. Compare Medicare vs Medicare Advantage for 2020 using our free tool. We can give you a list of prices for a particular plan. These prices are provided by the insurers selling such a plan. When you compare the prices, you will know which insurer offers the best rate and reasonable coverage.
Compare Medicare Advantage for 2020