Knowing the Medicare supplemental insurance

If you are unaware of what Medicare is – it is a health insurance that caters to people above the age of 65. Medicare also provides insurance for people under 65 with certain disabilities, including end-stage renal disease. There are two Medicare insurances that you can choose from- Original Medicare and Medicare Advantage.

• Original Medicare supplemental insurance: This is the fee-for-service coverage for which the government directly pays your providers the claim for Medicare. This is further dived into Part A and Part B. Part A covers in-patient care in hospitals, in-patient care in skilled nursing facilities, hospital care services and home health care services. If you paid Medicare while working then you don’t have to pay a monthly fee for the Part A coverage of Medicare. Part B helps cover some medically necessary services like Doctors’ service, out-patient care, home health care services and medical services. You need to pay a monthly premium in order to get the Part B coverage.
• Medicare Advantage: Also referred to as Medicare Part C or MA Plans are offered by private companies those have been approved by Medicare. Medicare Advantage takes care of your entire Part A and Part B original supplement insurance. All Medicare Advantage plans do not work in the same way, some plans require referrals to consult a specialist and out-of-pockets may also vary. The various Medicare Advantage plans include:
• Health Maintenance Organization (HMO)
• Preferred Provider Organization plans (PPO)
• Private fee-for-service plans (PFFS)
• Medical savings accounts plans (MSA)
• Special needs plans (SNP)
• Optional Prescription Drug Coverage: This is also known as Medicare Part D is a prescription drug option run by private companies approved by and under contract with Medicare in order to help cover the cost of prescription drugs. This is also done to help protect against higher costs in the future.

Hereby, Medicare supplement insurance works out for the best and helps you rest assured that you are in safe hands. You can always compare Medicare supplemental insurance plan and choose the best pick.