If you or one of your loved ones become eligible for Medicare this year, you will be flooded with calls from people marketing Advantage plans, However, they are probably not going to mention the one big thing you miss out on by enrolling in their plans.
To understand it, you first need to know the difference between the 3 types of insurance available to this age group:
Medicare: This is the tradition plan run by the government. If you are sick, your doctor dictates what treatment you are eligible for.
Medigap- If you enroll in this when you first becomes eligible, these are relatively low cost plans that cover many of the costs that Medicare doesn't take care of.
Medicare Advantage-This is a privately run plan that gets a lump sum from the government to pay for your claims. In this case, the insurance company decides what treatment you are eligible for.
When my clients experience a major health issue, the ones covered by a Medigap plan almost always have the most coverage and options.The catch with those plans is that you can only get the low cost version when you first become eligible for Medicare and only if you sign up in combination with traditional Medicare. Once you sign up for an Advantage plan, Medigap plans can start taking pre-existing conditions into account. The the costs shoot way up or they can deny you.
If you know someone turning 65 this year, tell them about this. You could be doing them a huge favor.
Penny Brandt-Roy helps clients find senior communities in the Metro Atlanta area. For more information on her free service, visit www.orchidsenior.com.
Комментарии