WHAT ARE THE DIFFERENCES BETWEEN ORIGINAL MEDICARE AND MEDICARE ADVANTAGE? Medicare is the federal health insurance program for those who are 65+ years of age or under 65 with qualified SSDI or with End-Stage Renal Disease. When eligible, you can choose between Original Medicare, the federal government insurance or Medicare Advantage, private insurance offered by companies that contract with the federal government. Original Medicare includes:
When choosing the right plan for your personal needs, you must consider cost and coverage. With Original Medicare, you will usually pay 20% of the Medicare approved amount after your deductible and will need to pay a separate premium for your drug coverage (Part D). Your financial exposure is also unlimited unless you buy supplemental (Medigap) insurance to fill the gaps. Most Medicare Advantage plans include drug coverage and do not cost anything above Parts A and B. In addition, your Part B premium could be lower. With Medicare Advantage you cannot and do not need to buy supplemental (Medigap) insurance. Take a look at the tables below sourced directly from Medicare.gov: THERE IS MORE In addition to your drug coverage being included, Medicare Advantage may offer vision, hearing or dental services at no additional cost and without having to buy a supplement. You may also get a number of goodies and valuable coupons. Reach out to us to see exactly what is covered and by which company. HOW CAN THEY AFFORD TO DO THIS? Private Medicare (Advantage) can give you these extras via emphasis on prevention and cost containment. With Original Medicare, you can see any doctor in the country. With Medicare Advantage you need to stay within the network to avoid additional costs. This is what you are giving up for limiting your financial exposure and for not having to buy supplemental insurance: From: https://www.medicare.gov/basics/get-started-with-medicare/get-more-coverage/your-coverage-options/compare-original-medicare-medicare-advantage |
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