Medicare advantage plans are important as they cover expenses that are not covered by Medicare Original plans. There are standardized ten plans which are identified as Plans A to N. The only difference between them is the amount of premium to be paid. Before buying any Medigap plans it is necessary to evaluate the needs and medical expenses. It is also important to earn what benefits are not covered under Medicare original plans and how much so that the rest can be covered through Medicare advantage plans accordingly. It could also help to list down the benefits that are necessary or those which might be incurred in the future and those could be taken into consideration while looking out for policies. Also, it is necessary to prioritize these benefits and look for plans which offer these benefits and compare the average premiums offered by different insurance companies for the selected policies.
Before comparing it is necessary to find out which companies offer the Medicare Advantage plans in the area and which plans are offered. Every Medigap policy is supposed to follow those laws and standards put down by the federal and state laws and are consequentially standardized. All policies mostly offer the same basic features but some may have additional benefits.
Comparison of Medicare advantage plans:
- Part A coinsurance and hospital cost up to an additional 365 days after benefits are used: All the plans in Medigap offer 100 percent of this benefit
- Part B copayment or coinsurance: All plans offer hundred percent of this benefit for coverage except for plans K and L which have 50% and 75% respectively. Plan N Pays 100% of coinsurance but pays only $20 for office visits and $50 for emergency visits.
- Blood for first 3 points: 100% coverage except for Plans K and L which give 50% and 75%.
- Part A hospice care: All the copayments and coinsurance and covered 100% except for Plan K and L which covers 50% and 75% respectively.
- Coinsurance related to skilled nursing care facility: Plan A, B do not cover any related expenses while plans K and L cover 50% and 75% respectively. Rest of the plans cover 100%.
- Part A deductibles: Plan A does not cover any deductible and Plan K, L, and M cover 50%, 75%, 50% respectively. Rest cover 100%.
- Part B deductible: Plan C and F cover 100% rest do not offer any cover.
- Part B excess: Only Plan F and G cover 100%, rest do not cover.
- Foreign travel exchange: A, B, K, and L offer no coverage while the rest cover up to 80%
- Out of pocket expenses: Only plans K and L offer $5,240 and $2,620 respectively while it’s not applicable for the rest.