There are two Medicare supplement plans available to seniors in the US. It is important to look carefully at these plans to determine what would be the best option for each person.
Medicare supplement plans are known as Medigap and Medsups. They all help with the medical expenses that Medicare does not cover. They have several stages which are lettered from A-L and should be looked at carefully, because their prices will vary. These Medsup supplement plans are delivered by insurance companies similar to the insurance companies one has had prior to getting Medicare Part A and Medicare Part B. They have a premium paid monthly which the cost will be determined by where one lives, what plan an individual 65 year old chooses and a person’s age at the time they secure their plan. So a 65 year old will have one price, while someone older will likely pay more for their premium. People may already have additional insurance from their employer and that can be their added Medicare supplement insurance company. They will use their Medicare ID card, as well as, their private insurance card. One needs to determine if it is feasible to keep their insurance plan or get a Medsup supplement plan in its place.
Medicare Advantage plans are different in several ways. One will no longer need to use their Medicare card, but will use their Medicare Advantage card when getting medical services. These plans are also different between each other and the different insurance companies that provide these plans. You can choose between HMO, PPO, or Fee For Service which will be determined by where you reside and what medical needs you want to be covered. Some plans have extra premiums and others many not. Also some Medicare Advantage plans will pay a portion of the Medicare Part B premium one has deducted from their Social Security monthly benefits.
After you have chosen Mutual of Omaha Medicare Supplement Plan G, you may wish to purchase a Medicare Part D plan to cover your prescriptions. Some Medicare Advantage plans also will cover them. You will need to determine what appeals to you.
What Plan is best?
No one plan is best for all concerned. Many like being able to pick and choose their Medigap for their medical needs. Some like the Medicare Advantage plans because of the inclusions of certain things and with no extra premiums.