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Medicare Part A and Part B roughly pay for 75% of all your medical
cost.
To cover the other 25% or so of your medical bills you will want to
look at Part C. You have two different options to choose from as
shown below.
Option 1: Medicare managed care plans
These “Medicare + Choice” plans are like HMOs and PPOs. In most
cases, you can only go to doctors or hospitals that are part of the
plan and you need a referral to see a specialist or you may not
depending on the plan you choose. These plans must cover all Part A
and Part B benefits, and some cover
extras like prescription drugs, dental services and eye exams.
These plans are called by different names:
Medicare managed care plans
HMO and PPO plans for seniors
Private Fee-for Service plans
Medicare Advantage plans
These plans are typical to individual plans for those who are under
65.
Option 2: Medigap
You may also be able to purchase supplemental coverage called
Medigap insurance. These plans are regulated by Congress and are
the stronger option to go with since they cover more out of pocket
when you are sick. Yes, the premium is higher than option 1, in
general, but with better coverage.
Another name for Medigap: Medicare Supplement
These plans will cover you nationwide and the most popular plan on a
Medicare Supplement option is Plan F. |
