Medicare is health insurance for people age 65 and older, or people yougner than 65 with certain disabilities or end-stage renal disease. Original Medicare provides Parts A and B. It is run by the federal government and covers some hospital and medical costs. Medigap and Medicare Advantage are plans that can be purchased from private insurance companies to help you pay expenses not covered by Medicare. Be aware of the differences so you will know which plan is best suited for your needs.
Instructions
1. Know what you want. Write out a list of all your monthly medical costs, including doctor visits, medications, health care equipment costs and any other medical-related expenses. Decide what benefits would best help you based on this information.
2. Find out if a Medicare Advantage doctor is in your area. Most urban areas have physicians enrolled in the Advantage plan, but many rural areas do not. If there is no Advantage doctor in your area, Advantage plans are not an option for you.
3. If there are Advantage physicians in your area, find out who they are and decide if they are doctors you're willing to use for your medical care. Determine if you would need to give up your current doctor.
4. If you have substantial medication costs, remember that new Medigap policies do not provide prescription medication coverage. Some, but not all Advantage plans do.
5. If you choose Medigap coverage, remember that the only difference between the policies is cost. All Medigap plans must provide the same coverage by law.
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