Medicare vs Medicare Advantage 2020
You can only know which of the available medical insurance plans will work best for you if you compare them. We want to help you compare two distinct Medicare plans here so that you can make a better, more informed coverage decision. Original Medicare vs Medicare Advantage 2020 is a comparison that will benefit you, as it shows you what these plans have to offer and how they differ from one another.
How Their Coverage Differs
Let’s start with what kind of benefits they have to offer. These two plans are covering some very different medical expenses, but they also cover some of the same healthcare costs and services for you. Because there is some overlap, it is vital the you compare them to tell the difference and to determine which one is a better fit.
Medicare Advantage is like a more powerful Original Medicare plan. It takes what is offered by Original Medicare and adds to it, for the most part.
Original Medicare will offer you coverage for Medicare parts A and B. These are major healthcare benefit packages that cover much of your hospital and doctor services. Part A covers the inpatient care, such as long term stays and hospital costs. Part B covers the cost of visits to the doctor and outpatient services.
With these two parts of Medicare, all rolled into Original Medicare, you can be covered for preventative medicine and treatment, rehab care, hospice care, nursing services, hospital stays, doctor’s visits, x-rays, some ambulance costs, hospital supplies, some durable medical equipment and more.
The Advantage plan will build on that, offering you coverage for all of Original Medicare except for hospice services. In addition to the basic Medicare coverage, an Advantage plan will take care of the cost of any leftover emergency medical services and any healthcare that is considered to be urgently needed. Some Advantage plans will also cover you for routine vision and hearing costs, including the cost of new glasses or hearing aids. You can also be covered for a powerful prescription drug plan known as Medicare Part D.
How They Differ in Functionality
There are many different Medicare Advantage plans but only one Original Medicare plan, so you get more options with Advantage coverage. You will have to buy your Medicare plan directly from the Medicare organization, but Advantage plans are sold by private insurers.
In order to sign up for Original Medicare, you need to be 65 years old or else qualify for Medicare in some other way. Those with disabilities, for example, automatically qualify before they are 65.
Medicare Advantage requires you not only be eligible for Medicare but that you also have an Original Medicare plan and then reside in the coverage area for your insurer’s network. That’s a bit stricter, but still pretty accessible for most people. Keep in mind that if you have any conflicting coverage with one of these plans, then you will have to drop one plan to make room or the other.
When comparing Medicare vs Medicare Advantage 2020, you have to know about the way they’re accepted by healthcare providers. Not all hospitals and clinics and such will accept either kind of plan. Medicare plans are accepted at most medical facilities, but not all. Medicare Advantage plans will only be accepted at network facilities. That means any hospital, doctor’s office or such that is part of your insurer’s network and has agreement with them to honor their plans.
You can sign up for different versions of Medicare Advantage plans that will cover you partially outside the network, such as a PPO plan. This gives you full coverage while you are on the network and partial coverage off the network, but it will cost more than your standard Medicare Advantage plan.
The Cost Difference
Finally, we want to discuss how the two plans are priced differently. This will be a key factor in determining if you can even sign up for the one you want. You may like to sign up for one of these plans but not be able to afford it. We suggest using our site to see what the local prices are for them. You can see a long list of plans and rates when you search on our site, and it is much faster than getting rates from the individual insurers. You can keep coming back here to get updated pricing info as you need it.
Medicare is sold by the Medicare organization, so they also decide the price for the plan. Most people do not have to pay a monthly premium on Medicare Part A, but Part B has a monthly premium of $135, but it can be higher. You have to pay deductibles on both parts of Medicare, with Part B’s costing $185 a year, and part A’s costing $1,364. The premium on Part A can be as high as $437, but not many people have to pay that full premium. Many pay a partial premium of $240, and most will pay no premium at all.
Medicare Advantage has rates that are decided by the insurance companies selling the plans. These rates vary based on where you live as well and how much coverage your Advantage plan includes. The average Advantage plan will cost about $64 a month. You can pay more than $300 a month for this plan, though, and some insurers sell $0 premium plans, which come with a much higher than normal deductible. You have to meet that deductible before you can expect any coverage from your Advantage plan. Like with the premiums, some Advantage plans offer you $0 deductibles.
Be sure to check the rates as you compare Medicare vs Medicare Advantage 2020. You want to figure out which one is more affordable for you and which one will cover you better. If you need any help, then be sure to contact us. We are happy to answer any questions and assist you however we can.