It is quite common to find people choosing Medicare Supplement Plans 2021 without knowing much about the basics or the ABCs. You need to first find out the following: original Medicare, Medicare Advantage, Medicare Supplement, and Medigap. Without the knowledge of the differences between each of these terms, you are a likely and potential candidate who gets taken for a ride. There are enough fraudsters out there who are waiting for simple and unsuspecting people like you. They will give you so much info about all these terms that with the sheer quantum of knowledge that you receive, you will feel swamped and quite dizzy. This cannot be – instead, you need to find out more about the basics of Medicare before you even think of a supplement plan.
At The Beginning
Original Medicare is what was put in place several years ago to take care of the health insurance needs of US citizens. This covers or rather includes Part A, which is Hospital Insurance and Part B, which is Medical Insurance. Of course, you could add a drug plan or coverage to this, which would come under Part D. This is federally managed and is quite basic. Whatever you need in excess of this cover, you can shop around for. If you are not going in for Original Medicare, you can sign up for Medicare Advantage, which is an all-in-one deal that is an alternative to the Original. Here again, you get a Part A, B and sometimes a Part D cover. You will find that the Advantage Plan is a little more comprehensive than the Original Medicare and hence is quite favoured.
Gaps And Supplements
Now let us get to the next set of basics. If someone has told you that a Medigap policy is a good one to think about, first find out what it is. This is a policy that supplements, in other words, adds to the Original Medicare. The important thing about this policy is that it is marketed and promoted by private companies. So, when you find that your original policy does not cover some important expenses, your Medigap could fill in and do the needful. Though these are sold by private players, they are also expected to follow federal and state laws that are pertinent to their operations.
Please take a few deep breaths and read this once again to know the basics of healthcare insurance in this country. You are going to need it sooner than you have imagined.