Medicare Advantage VS Medicare
Some seniors have trouble deciding between Medicare Advantage and just basic Medicare. While the Original Medicare plan can do a good job of taking care of common medical expense for the average person, there are a lot of people who need something more. We’ll compare Medicare Advantage VS Medicare here so that you can see how they measure up to one another and have more information to make the best decision for yourself.
Compare Medicare Advantage Plans
We want to break these two kinds of plans down piece by piece, so we will start with what kind of medical expenses they can cover for you. It is important to know what you will be covered for and if you are picking a medical insurance plan that is relevant to you. Not every insurance plan will have value to you and will be right for your situation, and it is vital that you choose a suitable plan.
Original Medicare will cover the cost of two parts of Medicare- Part A and Part B. These include hospice care, nursing services, hospital stays, blood usage, doctor’s office visits, preventative medicine, some medications and a few other various medical expenses that tend to be quite common for the average person. It is a good all-around plan, and while it doesn’t cover each of these things completely, it offers enough coverage to be well worth the monthly cost of the plan.
Medicare Advantage will cover even more medical expenses for you. It covers the cost of all things included in Original Medicare, except for the hospice care. On top of that, it covers any of the remaining expenses that fall into the category of emergency medical care or urgently needed care. That can include a lot of ER visits, surgery, ambulance care and other essential treatment not normally covered by Original Medicare.
A big difference between Medicare Advantage and Original Medicare is that while there is only one version of Original Medicare, there are a few different kinds of Medicare Advantage plans. The coverage we just listed for Medicare Advantage would just be the basic plan. There are higher coverage plans available that add onto that basic coverage. The most common of these is the Medicare Advantage Part D. It includes basic coverage, plus cover for the prescription drug plan Medicare Part D. That’s going to cover all sorts of medications in its coverage, with some of them being covered almost completely for you. It also includes coverage for name brand drugs, along with many generic prescription medications.
There are other Advantage plans as well, such as ones that include basic coverage and cover for all sorts of routine checkups throughout the year. These are checkups for vision, hearing, dental care, and general wellness, and you can even be covered for a new hearing aid or a new pair of eyeglasses. Check the lineup of Advantage plans available at your local insurance agency to see what options are there for you. Using our site, you can compare rates and see which insurance company is selling the plan that you want. This is a great way to get all the information you need without having to make a bunch of phone calls or visit the websites of several different insurance providers. You can find all the necessary pricing and insurance plan information in one place. Feel free to use our site as much as you want, as this service is completely free.
Where You Will Be Covered
Another way we want to compare Medicare Advantage vs Medicare is through their coverage areas. This determines where your plan will be fully accepted and where you can get the full coverage of the insurance plan that you pay for.
Medicare’s Original plan will cover you anywhere that Medicare is accepted. That is a whole lot of hospitals, clinics, doctor’s offices and pharmacies. Medicare plans are accepted pretty much anywhere, so there is often little trouble finding a place to get healthcare services from that you’ll also be able to use your insurance plan. Medicare has been around so long that most medical facilities will accept it, and it is a rarity to find ones that don’t.
Medicare Advantage, on the other hand, is a little bit harder to find coverage for. You are limited by where your insurance company’s network extends to. Each Medicare Advantage plan is sold by a private insurance provider, such as Aetna, Cigna, Mutual of Omaha and others. If your insurance company doesn’t have an agreement with the clinic you want to visit, then your Advantage plan won’t be accepted there.
Medicare Advantage plans can provide you with coverage even if you go outside of their network area, though. The PPO Advantage plan that many insurance companies sell is able to cover you partially outside of your insurance provider’s network. It costs a bit more than the standard Advantage plan- called an HMO- but it can be worth it for you if you are having trouble finding a healthcare provider who accepts your Advantage plan and insurance company.
Compare Medicare Advantage Plans
How Much You’ll Pay
The cost is another area where these two plans really differ. They both have monthly premiums to pay and an annual deductible to take care of, but the costs are determined differently.
Original Medicare’s prices are set by Medicare itself. There is a standard rate that may change every year or so, but everyone across the country pays the same basic rates. You could pay less for Original Medicare if you worked a number of years and paid taxes. You could also qualify for lower rates due to disability and other medial or financial situations.
Your costs are based partially off of your income, so keep that in mind as well. Some people pay $240 a month for Medicare Part A (such as those who only worked a few years paying taxes), which you’ll remember is a part of Original Medicare. Most people pay nothing monthly for this part of the insurance plan, though. You’ll only pay a deductible on Part A when you come out of the hospital after a stay. This is considered to be the benefit period’s end, which is when the deductible would be due. The deductible ranges from $340- $1,364. Any hospital stays that are longer than 150 days require you to pay the full cost of your stay after the 150 days.
Medicare Part B, the other part of Original Medicare, has a monthly premium of $135-$460. How much you pay depends on how much money you make. The annual Part B deductible is currently $185.
Medicare Advantage has an average rate of $45 per month, but you can pay much more or much less for your plan, depending on which insurer you choose. You can check the rates here on our site and see what it would cost you to sign up for this plan. Some Advantage plans have a $0 monthly premium, which can really help you to save money, but you’ll still have the deductible to meet each year.
The rates for Advantage plans are set by individual insurance companies, and that’s one of the big differences of Medicare Advantage vs Medicare. If you have any questions about which plan might be right for you or how these differ from one another, be sure to give us a call.