Your health should be prior to your list. When you are healthy you can enjoy your life to the fullest. To take care of your health is not cheap. Going for a regular medical check-up, taking regularly prescribed medicine, additional treatment (if needed), altogether very expensive. It is too high to bear for common people.
But there is a way to cut down to the cost to stay healthy. Health insurance policies cover almost every field of medical facilities. US government has issued four major health insurance policies for the benefit of the people, known as Medicare.
The four Medicare plan:
- Plan A: This plan covers basic hospital care starting from the nursing facility to hospice care.
- Plan B: One of the most important plans which include medical facilities. This plan bears the cost of annual wellness, laboratory test, basic medical equipment, ambulance service, mental health care etc.
- Plan C: Plan A and Plan B joined and create Plan C. this plan provides HMO, PPO, PFFS, medical saving accounts like benefits. It also covers dental, vision and hearing care in some plans.
- Plan D: This plan covers the cost of prescribed medicine.
How do you get 100% cover by medical insurance?
Those above plans help people to get rid of the tension of medical cost but only 80%. Yes, only 80% of your medical cost is coverable by Medicare.
So what are you going to do for another 20%? Are you willing to pay from your pocket?
The government left gaps in those plans. Those plans either government insurance plan or private but government certified. You don’t have to spend that 20% of the medical cost if you have Medicare advantage plans, commonly known as Medigap. Maybe government failed to fill up the nooks but these private insurance companies has come to your rescue.
There are ten types of Medicare advantage plans named as A, B, C, D, F, G, K, L, M, and N. Each of them has some basic facilities but the inclusion of different benefits each plan is different from one another.
The basic benefits include in Medicare advantage plans:
- Coinsurance for part A
- Hospital costs up to an additional 365 days.
- Hospice care coinsurance or copayments (Medicare part A)
- Coinsurance or copayments of Part B Medicare policy
- Three pints of blood for using in medical purpose.
You are only eligible for Medicare advantage plans if you are 65 and have Part A and Part B Medicare plans.