Many people are still confused on the difference between the Medicare original, advantage and supplement plans available today. Well, this article will educate you on the importance of those insurance and how can enrolling to one of this can be a life-changing decision you’ll ever make.
What is Original Medicare?
Original Medicare is government-funded health insurance to those who are 65 and above. The benefits and financial help is given to those individuals are coming from the taxes. So basically, you deserve the benefits you are enjoying right now as a good taxpayer. After years and years of working it is now time to retire and harvest the fruit of your labor. And since you are ready to relax, you need to be mindful of your health.
Because this type of Medicare comes from the government, expect to get less coverage and benefits. This is because they also need to provide financial assistance to others and in order to help everyone who is in need, they are only giving a budgeted money to each patient. Yes, they will shoulder some of the expenses but not a hundred percent. There will be some medical charges you need to pay and that is called the “medical gap”.
What are Medigap Plans?
Medicare Supplement and Medicare Advantage plans 2019 are there to cover the medical gap. Or shall we say, they will provide support on those expenses that are not covered in Original Medicare.
Unlike the Original Medicare, Medigaps are run by private sectors so you will be covered and insured as long you pay monthly or yearly. These are helpful because it will serve as a quick protection from big health problems and expenses. They also provide partner doctors and hospital to help you save more. In addition to this, though it is private-owned, the government still give funds to this medicare to provide an affordable rate to those who are in need.