Advantages of Medicare – Types of Plans
What is Medicare?
Medicare is basically the federally provided health insurance program that caters for people above the age of 65 and some special interest groups such as people with disabilities. Individuals who are younger than 65 and have any physical disability or suffer from permanent kidney failure are qualified for Medicare coverage. However, Medicare does not cover some long-term medical expenses. Here you can learn what the advantages of Medicare are.
Medicare Advantage Plans
There are different plans for Medicare cover. In all plans of Medicare Advantage, the patient is entitled to all the medical service covered by original Medicare except for hospice care and certain costs for clinical research. This includes any medical emergency and urgent care.
Advantages of Medicare
Medicare Advantage plans are easy to sustain for all as they provide a pay as you go option. The only plan that requires monthly premiums is Medicare Part B. This means that you can save a lot of money every month if you only see a doctor occasionally. You may even get the chance to have a co-pay in your plan. Even if you have to see your doctor monthly, you still save more as compared to Medicare Supplement Insurance plans. Please note, you should only seek a co-pay who does not see doctors regularly. This will help you save money on your Medicare Advantage plan.
You may be entitled to extra coverage for conditions not covered in your original Medicare plan. Some of the extra covers include hearing loss, dental problems, vision, and other health issues. Although you may be required to pay a monthly premium, you will get a prescription for all these conditions.
Card Consolidation:With Medicare Advantage Plans, you do not need more than one card. The Medicare Advantage plans offer an all in one card. It helps you access all services including medical, prescription drugs, and hospital benefits. Unlike other cards that may require a different plan for inpatient, the Medicare Advantage Plan allows you to have your assets in one basket. With other plans, you will be required to carry three separate cards; Medicare, Supplements, and Part D program.On the flip side, the Medicare Advantage plan has a disadvantage of changing your coverage plan every year. On January 1st, the terms of coverage are subject to change even if you stay within your plan. The changes are not major but may still affect your medical needs. You need to constantly check your annual notice to ensure that you are not affected by the changes. If there are any changes, you need to contact the representatives to determine how they affect your plan. You can also consult an insurance advisory firm for more guidance.
Bottom Line
The Medicare Advantage Plan has more benefits and is more flexible than the Original Medicare plan. Although you may be required to pay monthly premiums in some cases, it is only in rare circumstances. You will still enjoy all the benefits of your original Medicare plan except for hospice coverage and some minor clinical research bills. The advantages of Medicare are many including; card consolidation, coverage for extra conditions, and a simple payment plan.