There is so much information circling about on the web about Medicare. One of the big questions is who actually provides it. There is not a black and white answer to this, as Medicare may be provided by the federal government, it can be replaced by Medicare Part C, AKA Medicare Advantage, or work with a Medicare Supplemental Plan. We’ve found how to make this as crystal clear as possible.
Original Medicare
Medicare Part A and B are provided by the federal government. Many times your social security will automatically enroll you in Part A (hospital coverage), but you will have to enroll in Part B (medical coverage) and most people pay the 2014 monthly premium rate of $104.90. Click here if you’re ready to sign up for Medicare.
Medicare Advantage Replaces Original Medicare
If you decide to sign up for the budget-friendly Medicare Advantage with a private insurer, you will no longer be enrolled in Original Medicare. Medicare Advantage must cover everything that Medicare covers, and sometimes offers other benefits such as covering your Part B premium and Prescription coverage.
Medicare Supplement Plans
These plans known commonly as Medigap, do not replace Original Medicare but work in conjunction with the federal program. These plans fill in the gaps Medicare leaves open, such as extended hospital stays, blood transfusions, and hospice stays. Click here to learn more about what Medigap Plan Cover.
Now that you know who provides Medicare, which is the best for you?
It depends. If you are on a tight budget Medicare Advantage is the best option, as it will save you the most money and with most providers it will offer you greater benefits than traditional Medicare. However, if you have a little extra money to spend each month, Medigap Plans are a great investment, as you fill in the gaps where Original Medicare leaves off.
For any further questions please call 800-930-7956 or contact Senior65.com.