| By :
Marilyn Katz
Medicare offers many choices for today's recipients. You probably understand that it covers millions of US seniors and disabled people. And since it was founded about 50 years ago, has become an American institution. Most US seniors, and some disabled people, qualify for this benefit. Part A does not usually a require a premium, but insured people must only pay a fairly low Part B premium. Most social security recipients have this premium taken out of their social security check every month. Not all services are covered by Part A and Part B. In addition, recipients will have to pay deductibles and copays for some services. This is why private health insurers are also in the market. They provide Medicare supplements which offer more coverage or benefits. These are called Medicare supplements, medsups, or medigap policies. A person who selects on of these supplements will pay a premium to a private insurer, and they will use this coverage in addition to original Medicare. These medigap plans are standardized with names like Plan A, Plan B, etc. Private insurers may compete on cost, and this will vary by location, but they must issue the standard plans. More recently, another type of plan has been allowed on the market. These are called Medicare Advantage (MA) plans. Sometimes these are also called Part C plans. These are also issued by private companies. Rather than supplementing original coverage, the insured person will only use the MA plan when they seek medical services. The plans are strictly regulated and must provide coverage that is equal to, or better than, the original plan. Some MA plans may have deductibles and copays, but these are usually much lower. Some also require additional premiums, but some can operate off of the tax contribution, and do not require an additional premium. Some plans will even refund some of the Part B premium that most recipients pay from their social security check. It is important to understand that supplements and MA plans are very different. One supplements the original plan, while the other replaces it. Those insured by Advantage plans still belong to Medicare. But they will use their private MA plan for coverage while they are enrolled. Even more recently, Part D plans started providing prescription benefits. You may still pay an additional plan premium every month, but still understand the bulk is government subsidized. Some MA plans include the prescription coverage. Others require a member to purchase a another Part D plan. Part D plans also can include deductibles and copayments, so a member should not expect to totally eliminate prescription drug costs. But they still help keep the cost of medication under control. Which is the best senior health plan for you, or for somebody you help care for? It is impossible to give one right answer to this question. The individual's expectations, health, and location will affect the choice. The right pick will also be affected by a person's budget. It is important to look for the best plan for an individual, and not to try to find the best plan for everybody.
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