When you consider the Medicare Plans from a top-level view, you really have only three options. Understanding the types of plans available will enable you to compare on an individual and side-by-side basis to determine which is the best plan for you. The first option is the one that you have every year; that is, original Medicare. The other options consist of Medigap, otherwise known as a supplement and lastly, an Advantage plan.
What’s the First Thing to Consider
The first thing to consider is if you should stay with the original and purchase a Part D plan. There is no rule that says you have to purchase a supplemental policy or enroll in an Advantage plan. Some people choose to stay with the original. The vast majority of these people do so because they have supplemental insurance from a former employer. If you are offered health insurance from your former employer, that coverage will to one degree or another pay after your original pays.
If you fall into this group, you should at least look at your other options to ensure that you are receiving the best benefits. In some cases, insurance from your former employer may cost more than a supplement policy and afford less benefit. If you are paying a premium for your employer group supplemental policy, you should explore the costs of a supplement.
What To Do When You Become Eligible?
A small group of people choose original even though they do not have coverage from a former employer. Many of these people do so because they are not aware of their options. When becoming available for Medicare eligibility you should evaluate all your options.
Choosing original by itself or an employer group policy without drug benefits will require that you purchase Part D insurance. You are not actually required to purchase Part D, but the late enrollment penalties give you a good incentive to do so. If your budget allows, you may consider purchasing a supplemental policy. Supplement policies are referred to as Medigap because they fill the cost-sharing gaps to one degree or another, depending on the individual policy. You must have original Medicare Parts A and B to purchase a supplement. Get your health insurance Florida right now.