Original Medicare provides good medical coverage but has no maximum dollar amount you may have to pay
There are only two solutions:
Medicare Advantage Plan or a Medigap Supplement Policy
Fundamentals to understanding your options
Original Medicare is not full coverage
Did you know that Original Medicare doesn't fully cover all of your hospital and medical expenses? Original Medicare consists of hospital insurance (Part A) and medical insurance (Part B). Original Medicare pays a good portion of the Medicare-approved amounts for covered medical care costs, but does not pay for these costs in full. Original Medicare generally only covers drugs administered by a physician at the office, therefore, you will need to get a prescription drug plan in addition to Original Medicare.
What is a Medicare Supplement plan (Medigap) ?
Medicare Supplement Insurance plans are also known as a Medigap plans as they helps fill the "gaps" in Original Medicare as Original Medicare pays some, but not all of the cost of the covered health care services and supplies. A Medicare Supplement Insurance (Medigap) policy can help pay for some of your health care costs, like: Copayments, Coinsurance and Deductibles. All Medicare Supplement Plan types are exactly alike but cost differ by insurance company, therefore shopping is important if you want to save money. With a Medicare Supplement plan you have the freedom to go to any doctor who accepts Medicare.
What is a Medicare Advantage plan ?
Medicare Advantage Plans are another way to get your Medicare coverage. Medicare Advantage Plans, sometimes called "Part C" or "MA Plans," are offered by private companies approved by Medicare that must offer at minimum what orignial Medicare covers. Most Medicare Advantage Plans include drug coverage (Part D). In many cases, you will need to use health providers who participate in the plan's network and who are in the service area to. These plans set a limit on how much you will have to pay out-of-pocket each year for Medicare covered services to help protect you from unexpected costs. Some plans offer out-of-network coverage, but sometimes at a very high cost.
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