There are a number of questions and concerns when it comes to enrolling in Medicare and Medicare Supplemental Plans.  Three main questions that seniors want answers to are:

• What parts of the four different parts of the Medicare program covers stays in the hospital?
• What differences are seen between Original Medicare (Medicare Part A & Part B), Medicare Advantage, and Medicare Supplemental Plans?
• Which parts of Medicare provide prescription drug coverage?

Original Medicare has four basic elements:

• Medicare Part A – Hospital Insurance
• Medicare Part B – Health Insurance
• Medicare Part C – Medicare Advantage
• Medicare Supplemental Insurance Plans – Medigap

Medicare Supplemental Insurance Plans, Medigap, is private health insurance plans that seniors can purchase to cover the “gaps” that are left after enrolling in Medicare Part A and Part B.  There are ten different Medigap plans to choose from.  Each plan covers different elements that are not covered by Original Medicare such as doctor’s office co-payments, skilled nursing facility co-insurance, and certain out of pocket hospital costs not covered.

There are ten different types of Medigap Plans designated by one of ten letters of the alphabet.  The benefits within the different plans are the same no matter what insurance company that they are purchased from however, each of the ten plans covers something different.  Premiums for each of the ten policies also vary depending on who the coverage is purchased through.  Medigap Plan F can essentially cost $110 a month from Company A while Company B has the same exact plan for sale for $150 a month.  This is why it is super important for Medicare participants to compare Medigap plans and the premiums charged by different insurance companies.

In order for participants to be eligible to purchase supplemental insurance, Medicare enrollees must be enrolled in both Medicare Part A and Medicare Part B.  Medigap is renewable from year to year no matter what the participants current state of health is.  Monthly premiums will be charge based on where you live, your current age, the plan you select, and the insurance provider chosen.

Another option that is provided to seniors is Medicare Advantage.  This option is chosen in place of Original Medicare and Medigap.  Participants often choose Medicare Advantage over Original Medicare and Medigap because of the lower monthly premiums.  Although the premiums are lower, out-of-pocket expenses may be higher.  It is important to also note that Medicare Advantage offers prescription drug coverage at no additional cost whereas Original Medicare and Medigap requires you to purchase prescription drug coverage, Medicare Supplemental Insurance Plan D.  The advantage of Original Medicare and Medigap Supplemental Plans is that there is a larger network of providers to choose from.

There is a lot to consider when it comes to the federal government sponsored health insurance plan.  Seniors over 65 have the option to choose between purchasing Medicare Plan A, Medicare Plan B, Medicare Advantage, and Medicare Supplemental Insurance Plans; it is crucial to look at all of the option when considering your current and future health care needs as well as your budget.

Learn more about Medigap plans and rates at http://emedigap-plans.com.  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!