The majority of people over the age of 65 are enrolled in Medicare health plans which help them cover a large chunk of their medical costs by providing medical services through a network of participating medical practitioners and hospitals. These plans enable members to get medical services at a lower cost.
The various Medicare plans are not the same in their details throughout the country but vary from state to state which is why it is essential to compare AARP medicare supplement plans.
Medicare plans may be divided into the following types:
- Original Medicare Plan: Also known as Part A and Part B plans, these plans are a must for all Medicare members. All members need to enroll in these plans in order to be eligible for other plans. All other plans are referred to as “additional plans” meaning that they can be added to your original Medicare plan.
Original Medicare plans cover the majority of a patients inpatient costs and about 80% of his outpatient costs, leaving the member to pay the balance. However, even the balance may cost a good amount of money, and in order to reduce that, a Medicare member may enroll himself in one of the additional Medicare plans.
- Medicare Advantage: Also known as Medicare Part C plan. If you enroll in this, you actually LEAVE the original plan and take Plan C instead. Benefits under this plan cover Part A and Part B; provide additional benefits, and most of its plans cover prescription drugs.
- Additional plans: These plans are those who may be added by a Medicare member in his original plan in order to gain further cost benefits. These include:
Medicare Prescription Drug Plan: Also known as Part D plan is concerned with prescription drugs and allows its members to purchase those prescription drugs at discounted rates set forth by Medicare.
Medicare Supplement Insurance: Also known as Medigap; covers a major portion of the costs not covered by Medicare Original Plan. This plan is private insurance, as opposed to Part D plan and Part C plan which are government programs offered by private companies. Compare the various compare AARP medicare supplement plans to choose the best plan for your requirements.
Opting for a medical plan is easier said than done, remember to compare AARP medicare supplement plans and other plans and see which suits you.