Choosing the Medicare plans are confusing without doubt. There are hundreds of pages that you would have to go through and comprehend and the terms are not the easiest to grasp. The Medicare plans have four parts. These are the part A which covers the hospital care, part B that covers the medical procedures, the doctor cost and the equipment and part D which covers the prescription drugs. This is the basic coverage that is provided to senior citizens aged over 65.
But does the traditional medical insurance plan cover all? No it does not. There are copayments and deductibles and other medical expenses and this could wipe out your entire savings if you ever get unwell. This is why you also need the part C which is known as the medical advantage. It protects you in the case of an illness or an accident where the costs are very high. The Medicare advantage plans offer extra coverage.
Understand your Medicare
Suppose you just get the part A, B and D of the Medicare plan but there are many gaps here. Suppose that you have a major heart surgery and this leads you to stay in the hospital for long. You also need to be under medication after you get discharged. You pay some money to the hospital because you have the part A deductible plan and after 60 days of your treatment you will have to pay a portion of the cost incurred daily. You also need to pay towards the benefits under part B because there are deductibles involved. There is no cap on the maximum money that you can pay out of your pocket.
Now you also have part D and you pay a great deal of money towards the prescription drugs especially if you need high amounts of drugs. This means that you spend a great deal under part D too.
What does this mean?
There are lots of holes in the original medical insurance plan and if you happen to get some serious illness then you would have to spend thousands of dollars towards the hospital expenses. This is why people purchase the Medicare advantage plans in 2019. The Medicare advantage plan is offered to you by the private insurance companies and they totally follow the guidelines under Medicare.
Conclusion – Which Medicare advantage plans do you need
To figure out which medical plan is suited for you and for your needs is not something that you may able to do so yourself. So get some understanding of how the Medicare works and then get a professional help to buy the best Medicare plan for yourself You should compare the Medicare plans before you finalize on one. Each plan has its positives and negatives so understand the facts and the coverage that it offers before you make a purchase.