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There are two basic options for individual
Medicare insurance: Medicare Supplement (or
MedSupp) Insurance and Medicare Advantage
(or MA) Plans.
Medicare Supplement Insurance policies are offered by private insurance companies and work as a secondary to Medicare, paying the portion of the bill you’d normally have to cover yourself. Generally, this eliminates all out-of-pocket expenses, there are no co-pays. All plans are standardized by Medicare, but premiums vary by company. You have the freedom to go to any doctor or facility in the US that accepts Medicare, without a referral.
Medicare Supplement Insurance policies are offered by private insurance companies and work as a secondary to Medicare, paying the portion of the bill you’d normally have to cover yourself. Generally, this eliminates all out-of-pocket expenses, there are no co-pays. All plans are standardized by Medicare, but premiums vary by company. You have the freedom to go to any doctor or facility in the US that accepts Medicare, without a referral.
Representing companies such as: AARP, Aetna, Genworth/American Continental, Mutual of Omaha, Gerber Life, Avalon, and more.
Medicare Advantage Plans are also offered by private insurance companies,
mostly in the form of HMOs or PPOs, and replace
Medicare as the primary. There is a network
of providers for each plan and co-pays for
virtually all services. Premiums can vary
greatly and no two plans are alike. What
you’d pay in co-pays is generally less
than what you’d have to pay if you
had Medicare alone. MA plans may also offer
some additional benefits in addition to Medicare,
such as: eyewear/ hearing aid reimbursements
and a fitness club membership.
Representing companies such as: Aetna, Bravo, Highmark Blue Shield, Cigna, Humana, and more.
Prescription drug costs are always a major
concern for people on Medicare. Medicare Rx Plans can be bundled with an
MA plan or you can obtain a stand-alone Part
D plan along with your MedSupp. Even though
all drug plans follow the same four-tier
structure, the co-pays and formularies for
each plan vary significantly.
Representing companies such as: Advantra, AARP, Humana, Cigna, BlueRx, and many more.
DISCLAIMER
This website is a private website and is
not associated, endorsed or authorized by
the Social Security Administration, the Health
Care Financing Administration, the Department
of Health and Human Services or the Center
for Medicare and Medicaid Services nor do
we claim to be. This site contains basic
information about Medicare, services related
to Medicare and services for people with
Medicare. If you would like to find more
information about the Government Medicare
program please visit the Official US Government
Site for People with Medicare located at
www.medicare.gov.
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