Medigap isn’t perfect for everyone, but if you qualify and can afford it, you probably won’t regret your decision. Some Medicare Advantage plans include rewards not present in the original Medicare, such as glasses, dental coverage, and membership in gyms. Some of the policies include prescription drug coverage. There are many kinds of Medicare Advantage policies; PPO, HMO, POS, and PFFS. Understanding the benefits on the one hand is not enough to make your decision. Advantage plans have many benefits in addition to their disadvantages; so keep comparing and contrasting until you are comfortable with your choice. For those who simply do not have the funds for a supplemental plan, there are health insurance plans available in most areas that now offer zero cost options. I’m not a big fan of health insurance plans, but if you just don’t have the funds, it could be the way to go. Just consider the limits of your health insurance plan and if you are allowed to leave your network of doctors and hospitals.
There were certain modifications from the present standardized Medicare supplemental policies by 2010. This was as a result of the Medigap Modernization Act of 2010, The act took effect on June 1st. These changes did not affect persons who were already signed up to the Medigap Plan before this date and apply only to people who enroll on or after June 1st. Medigap policy E, H, I, & J policies are being phased out by Medicare, meanwhile those currently enrolled in these policies may remain in them with no change. Two rewards that are also removed are the Preventive Care benefit as well as Home Recovery benefit, as Medicare determined that these were totally underutilized by the beneficiaries.
The final benefit of supplementary plans over Advantage plans is that the price is standardized and has been around since 1992. Advantage plans, on the other hand, change annually. Recently, this has always meant higher prices year after year. It is very important to remember that coverage in a Medicare Advantage Plan is the same coverage as Medicare Part A and Part B. It is not the same as Part A and Part B with a supplement. All Advantage Plans will have direct costs in the form of copayments for office visits, daily co-insurance for hospitalizations, etc. Adding a supplemental policy to your Advantage plan to cover these costs is not allowed. Regardless of the type of Advantage plan you choose, keep in mind that you will have to choose between suppliers who accept your specific plan or are ready to pay direct costs.