Every year, plans change conditions, costs, and coverage. Soon, on November 15, the annual Medicare Open Enrollment will begin, allowing seniors to drop, add or replace their prescription drug coverage. Some seniors may be debating between enrolling in a comprehensive Arkansas Medicare Supplements plan versus a less ideal Medicare Advantage Plan. Since the two are often confused to be the same thing, we’d like to explain the differences in each.
Advantage Plan is a contract that Medicare has with a private insurance company to provide your care. It pays instead of Medicare, unlike Arkansas Medicare Supplement Plans that pay after Medicare. Depending on the Arkansas Supplements Plan that you have chosen, it will pay the Part A Deductible (for the hospital) and possibly the Part B Deductible (for the doctor). It may then pay the 20% that Medicare does not pay, and even possibly the extra 15% (Part B Excess Charges. It may also cover other things such as “Foreign Travel”. When you have a Supplement, you can see any doctor or hospital that accepts Medicare.
While Advantage Plan premiums can sometimes be lower than that of an Arkansas Medicare Supplements Plan, you will have to pay a co-pay when visiting the hospital. Another benefit of an Arkansas Supplements Plan is your freedom to see your choice of doctor – with a Medicare Advantage Plan HMO, you are restricted to “in network” doctors, and will need to get referrals to see specialists. And, if you have an Advantage PPO or PPF (private fee for service) plan, you must see a doctor that accepts Medicare, but some doctors that accept Medicare, won’t accept an Advantage Plan.
In the end, Arkansas Medicare Supplements will be the better choice for most seniors. To begin educating yourself about your coverage needs before the Medicare Open Enrollment period, contact Medicare Supplements for You.
