Medicare Advantage Plans: Who need it?
If you are looking for an example of a great government program that is difficult to understand, you should go with Medicare. The official website – Medicare.gov has complete information – some of that are easy to read and understand. But one of the most puzzling aspects is why, considering all parts of Medicare Americans on Medicare are encouraged to buy even more health insurance: Medicare Advantage Plans Health Insurance, also known as Medigap. These answers will explain why.
1. What is Medigap insurance?
Medicare Advantage Plans is found by visiting https://www.medicareadvantageplans2020.org for Medicare beneficiaries insurance for your insurance.
2. Why do I need more health insurance?
Because Medicare has many loops or gaps, “Original Medicare,” as the government calls it, defined as Parts A, B, and D, does not do any really good job of really covering you when you get seriously ill or injured. It pays some of your expenses, but far from all. This is where Medicare Advantage Plans or Medigap insurance comes into play. Depending on the plan you receive, Medigap pays all or part of the cost that Medicare does not cover.
3. These “extra costs” may not be that big, right?
Yes, they can. Here are a few examples. If you are hospitalized and only have original Medicare, you will have to pay the first cost of $ 1 216. If you stay longer than 60 days you will have to pay part of the cost of each day from then on. The amount of your daily payment depends on how long you were in the hospital and the longer you stay. Doctor visits and medical treatments are also available. Your deductible is $ 147, but after that, you will have to pay 20% of the “Medicare-approved amount” for most doctor services.
What if you have a $ 250,000 bill? Look for a $ 50,000 bill in your mailbox – even more, if the Medicare-approved fee is lower than $ 250,000. There is no limit to how high it works. Prescription medications can also eat at your budget. Original Medicare will pay you as much as 72% of the cost of some of your prescription drugs if you need enough medication to push you into the notorious donut hole, the period where Part D gives people with high drug costs no cover until their Expenditure exceeds $ 4, 550.