compare insurance medicare supplemental

Most people are well aware of the gaps within the original Medicare plan. For one, there is no stop loss feature. Other health insurance policies will pay 100 percent toward certain medical services after you meet your deductible, for example, you might have to pay $1,500 per year before your benefits will kick in. If you have Original Medicare and need hospital care or must enter a nursing home, this applies to you.


Many people buy Medicare Supplemental (Medigap) Insurance policies to fill in the gaps within their existing coverage, which might include co-payments or deductibles. Medicare Advantage Plans cover all the same services Original Medicare covers, and potentially some it doesn`t.

These plans are offered in some parts of the country through private insurance companies, but are still part of the Medicare program. If you`d like to switch to a Medicare Advantage Plan, now is the perfect time. Open enrollment for Medicare Advantage extends from January 1st through March 31st. You are eligible for a Medicare Advantage Plan if you currently have Medicare Part A or Part B. You will, however, need to see doctors and use hospitals within the plan, much like you would with an HMO. If you`d like to switch plans, keep in mind that you cannot drop Medicare prescription drug coverage. If your existing plan has prescription drug coverage, then your new one needs to have it as well.