Medigap vs Medicare Advantage 2020
Many seniors are now preparing to find the right medical coverage plan for 2020. They compare their options to help them see which plan offers better coverage for them and find an insurer that provides reasonable pricing for that plan. In this post, let us compare Medigap vs Medicare Advantage 2020. These two plans are useful in helping seniors lower their medical expenses while offering them substantial coverage for their healthcare needs.
Signing Up for These Plans
Medigap and Medicare Advantage have their own eligibility requirements. Thus, before you even spend your time examining their pros and cons, you need to find out whether or not you are qualified to take one of them. Just because you need coverage does not mean that you can sign up for one. There are certain criteria that you must meet first.
These plans require that you have an active Original Medicare plan. It must also be current so that you can get covered by your new plan.
If you are planning to obtain a Medigap plan, you must know that it works alongside Original Medicare. It can act as a complementary coverage to the basic Medicare. In other words, it can work what the other plan cannot.
Medicare Advantage, on the other hand, is quite varied. What it does is that it replaces the basic Medicare plan. It covers all items included in that plan, except for the hospice care. You will receive your coverage through your new insurer. However, hospice care will still be coming from Medicare.
You can register for Medigap when you reach you reach 65. However, if you qualify for disability, you may enroll in this plan. You have six months to sign up. After that period has passed, you can still obtain this plan but the cost of it is higher.
Medicare Advantage has a different enrollment period. You can enroll in one of its plans during its Open Enrollment window, which happens from October 15 to December 7. Do not let this period pass you by. If you do, you will have to wait for another Open Enrollment period next year.
You should also examine that you have no conflicting coverage. Bear in mind that Medicare does not allow overlapping coverage. You cannot obtain a Medicare Advantage policy and a Medigap plan at the same time. The reason for this is that these two plans overlap and they are not compatible with one another.
They also cause conflict with your employer’s healthcare plans or union’s coverage. If you have one of these plans, then you should consider dropping it if you wish to get coverage through Medicare Advantage plan or Medigap.
Other healthcare plans may clash with these two plans. If you wish to know whether your current plan will overlap with these plans, you should call us and our health insurance experts will give you helpful advice.
What They Cover
To better understand how these two plans can help you lower your healthcare expenses, you need to know how they will cover for you. Keep in mind that they work differently, even though they have overlapping coverage.
For example, Medigap plans supplement Original Medicare. They will cover the medical expenses that are not part of the basic Medicare policy. When you start comparing Medigap vs Medicare Advantage 2020, you will know the biggest difference.
These plans can handle your copays, deductibles, coinsurance, excess charges and blood usage. Foreign travel emergencies are also part of these plans. There are eight different plans under Medigap. Each plan has different coverage. You can find plans that will cover just a few things whiles others can handle most of the supplementary expenses.
Medicare Advantage plans will pay for the Medicare parts A and B, including emergency medical services and urgently needed healthcare services. These coverage items are part of every Medicare Advantage plan. You can find plans that will also cover the overall cost of vision, hearing and general wellness checkups. If you are taking prescription medicines, you can find plans that incorporate a Part D plan.
The quickest way to compare plans is to use our website. Simply enter the plan that you are interested in and the place where you live. We will give you the rates of that plan from various insurers that offer it. This method is way faster than going to the insurance provider’s website just to request quotes. The rates that we provide are updated. We constantly update the pricing to reflect the most recent rate for a certain plan.
You may use this free search service on any plan that you wish to examine. It is a quick way to compare not just the plan but also the insurance providers. We list all prices from the major insurers and the local insurers. In this way, you can make an in-depth comparison and help you make an informed decision.
As for the cost, Medicare Advantage plans can have a $0 premium. But you can also choose to pay $300 per month to lower the deductible. Medigap plans, on the other hand, have a price range of $60 to $460. They can cover some of the deductibles, so do not allow the high rate scare you off.
Talk to our health insurance experts if you need more help in comparing these plans. We are just here waiting for your call and help you make sense of the choices available.
Before signing up with any of the plans, make sure that you compare Medigap vs Medicare Advantage for 2020. When you compare these plans, consider looking into their coverage and other differences. You will find different perks with these plans and network options. Medicare Advantage plans will give you full coverage only if you go to the insurer’s network. But Medigap plans will cover you anywhere, as long as the facility accepts Medicare. As you compare them all, you will find the one that can offer you more value based on your healthcare needs.
Compare Medicare Advantage for 2020