You might have seen advertisements on television or received unsolicited phone calls from insurance agents trying to sell you “free” or “premium-free” Medicare Advantage plans. Buyer Beware… nothing in this world is free, and it is important understand the hidden costs, restrictions and limitations associated with this type of coverage.
Getting health coverage is one of the most important parts of aging. Often times, especially when we are in good health, we may neglect the importance of getting this coverage. However, with potential unforeseen medical expenses looming, this is a crucial time to make sure you are completely covered. Unfortunately, Medicare does not cover all of your Medical expenses at 100%.
If you’re nearing age 65, you’re probably considering your Medicare enrollment options. The standard coverage beneficiaries receive is Medicare Parts A and B, known as Original Medicare. Part A includes coverage for hospitals, skilled nursing facilities, and hospice care while Part B includes doctor visits, outpatient therapy, ambulances, and medical equipment.
If you’ve recently enrolled in Original Medicare, congratulations! Now is a good time to learn about the different parts of Medicare, so you can understand what your benefits include and decide if you want to sign up for additional coverage.
Like any massive insurance enterprise, Medicare is confusing. Medicare.gov offers hundreds of pages of explanation, but luckily the basics of the program aren’t difficult to grasp. As the cliché goes, however, the devil is in the details.
There are different ways that you can receive your Medicare coverage, or add onto that coverage. Medicare Advantage and Medicare Supplement insurance are options that may sound similar, but they’re quite different. They do have one main thing in common: they’re both offered by private insurance companies. There are two options commonly used to replace or supplement Original Medicare. One …