What is the best way to compare Medicare Advantage Plans (Medigap) before selecting a policy? The key to getting the best policy depends on what you want to be covered and the deductible you’re willing to pay. Several sources offer […]
What is the best way to compare Medicare Advantage Plans (Medigap) before selecting a policy? The key to getting the best policy depends on what you want to be covered and the deductible you’re willing to pay. Several sources offer advice on how to select the right Medicare Advantage Plan for you.
In this article, we’ll discuss some of those sources, and some advice for using those sources. Before moving forward, it is important to note that these suggestions are only intended as guidance, and are not legal obligations, nor statements of fact, expressed or implied by any of the information provided herein.
Some of the first places people should look to compare Medicare Advantage plans are with private, for-profit companies. These companies often offer the same benefits as traditional Medicare suppliers, including medical insurance, prescription drugs, vision, and dental benefits, as well as extended coverage for certain conditions.
Most of the private companies offer some sort of consumer portal that allows users to gather information on their plan, as well as stay up to date on its status. Some of the more popular companies offering this information include Blue Cross/Blue Shield, Assurant Health, Celtic Insurance Company, Fortis, Golden Rule, Humana, Kaiser Permanente, and Unicare. Compare Medicare Advantage plans with these companies to get an idea of what your choices are.
Another source of advice on where to enroll if you want to compare Medicare Advantage plans available to you is with traditional Medicare providers. While they don’t provide cover for everything that Medicare does, many have a variety of options available.
In addition to standard doctor visits, these plans typically provide extended coverage for emergencies, prescription drugs, and sometimes vision and dental benefits as well. It’s a good idea to enroll in these programs as soon as possible, particularly if you’re going to need to use them regularly.
The final source for finding out where to compare Medicare Advantage plans available to you is with specialized providers. Specialized providers, also referred to as “supplementary health care” plans, are designed specifically for members who might not otherwise be able to afford standard Medicare benefits. For example, instead of covering the same types of prescription drugs and doctor visits as Medicare does, these plans will cover a variety of specialty drugs, as well as hearing and vision benefits. They generally cost less than the premiums of regular Medicare Parts A and B and can be tailored to fit the needs of their members.
As you compare Medicare advantage plans for yourself, be sure to look at all the different options you have. Consider the extra benefits you’ll gain from joining a specific company. Some plans cover hearing aids, vision, and dental benefits, while others will cover only certain medications.
And some will give you the ability to take advantage of prescription drug coverage for your entire family. Every plan is different, but there are some similarities as well, such as extra benefits for senior citizens. Be sure to get a complete overview of what you can expect from your particular company.
The final thing you should be comparing as you compare Medicare advantage plans for yourself is your monthly premium. Most of the time, this type of premium is dictated by what kind of service plan you choose, so it’s fairly easy to figure out which plan you’d like to go with. When shopping for your monthly premium, make sure you look at the rates for everyone in your age group.
If you have high health risks, you’ll pay more in a traditional insurance plan, while a lower-risk individual will find that premiums are more affordable with some of these plans. To get the best value, if you want to cover everything you need, look into plans that offer prescription drug coverage as well as in-network prescriptions. A little bit of comparison shopping goes a long way.