As you grow older, it is crucial to have a healthcare plan that offers adequate coverage to ensure your well-being. Medicare offers healthcare coverage to senior citizens who are 65 years or older, and some people younger than that with certain disabilities. It can be a great health insurance option, however, it can be a confusing system to navigate, especially when determining your insurance coverage type. If you have Medicare and Medicare Advantage questions in Louisville, Kentucky, Uquote can help. Continue reading to learn more about the difference between Original Medicare and Medicare Advantage to help understand the right coverage for your situation.

Understanding The Differences Between Medicare And Medicare Advantage

A major difference between Medicare and Medicare Advantage is that Medicare is offered through the federal government, while Medicare Advantage plans are offered through private companies. Medicare, (also called Original Medicare), consists of two parts: Part A and Part B. Medicare Part A helps to pay for nursing, inpatient hospital, and nursing home care, and Medicare Part B covers doctor and preventative services, lab tests, and medical equipment. Medicare, however, does not cover everything, including dental, vision, and hearing services or long-term care. Medicare Advantage offers another option for senior citizens through private health insurance companies. These plans will cover the same healthcare as Original Medicare Parts A and B, but typically provide additional benefits, including prescription drug and over-the-counter medicine coverage, fitness and gym memberships, and routine vision, dental, and hearing services.

Choosing The Health Insurance Plan That Is Best For You

Both Original Medicare and Medicare Advantage have unique benefits, as well as drawbacks, so it is important to review the policies and your situation to determine which will suit your lifestyle the best. Although Medicare Advantage can have extra benefits, an out–of-pocket spending limit, low premiums, and reduced cost sharing for some services, it is important to note that Medicare Advantage has provider networks and can limit a policyholder’s choice when selecting care. Medicare, however, allows the policyholder to see any doctor they choose. Typically, premiums are zero dollars for both Original Medicare and Medicare Advantage Part A, however, Part B coverage will require a premium depending on your copay or deductible amount. Additionally, there are no maximum out-of-pocket expenses guaranteed with Medicare, while Medicare Advantage plans have an annual limit for out-of-pocket costs. When choosing your health insurance plan, it is advisable to review your own health and financial needs, and consider how much you will be able to pay for premiums and out-of-cost expenses (copays, coinsurance, and deductibles), if your current healthcare providers accept Medicare or are part of a network, and your current health if you have a preexisting condition.

If you have Medicare and Medicare Advantage questions in Louisville, Kentucky, contact Uquote today for a consultation.