Getting any of the two options that we are going to discuss comes with their separate advantages. For those that are new to the system, we shall be analyzing both health care schemes to show the glaring differences between the two. The objective of this exercise is to make everybody aware of the gains of one over the other so that at the end of the day, making the best out of the two situations will be pretty easy. We shall compare them in terms of cost; provider access and supplemental insurance. Shall we go:
COST
Original Medicare
Here, what you will get are charges for standardized Part A and Part B. The charges are inclusive of monthly part B premium. You are expected to show proof of meeting all your deductibles. You will be responsible for paying 20% coinsurance for Medicare-covered services. Every participating provider will ensure that you can provide proof of all that before you are allowed to register for this health insurance.
Medicare Advantage
When we take a look at the cost implication of Medicare Advantage, the cost-sharing is dictated here by the plan that you choose among the available ones online. You will be charged a monthly premium here in addition to the Part B premium. You will be mandated to pay a copayment for in-network care.
So in terms of costs for Medicare Advantage 2020 between the two, the cost implications are as declared above and is now left to everyone to choose the one that suits best.
SUPPLEMENTAL INSURANCE
Original Medicare
There is the advantage of adding a Medigap policy to the premium. This is not free, you have to pay an additional premium to enjoy the service and it is not mandatory. Paying for this will cover Medicare Cost-sharing.
Medicare Advantage
There is nothing like Medigap policy under this policy
PROVIDER ACCESS
Original Medicare
There is a wide freedom here in terms of choice of the provider. You are free to see any of the providers. Wherever you see any facility that accepts Medicare, you are free to use such facilities. It is irrelevant whether the vendor is participating or not.
Medicare Advantage
You can only use n-network providers under this scheme.
REFERRALS
Original Medicare
Under this insurance scheme, you will not need referrals in case you want to see a specialist
Medicare Advantage
There is a need for referrals for specialists here.
DRUG COVERAGE
Original Medicare
You will be required to sign up for a stand-alone prescription drug plan. You will not pay anything higher here.
Medicare Advantage
In the majority of cases, prescription drug coverage is provided and you will be required to pay a higher premium to affect the costs involved.
OTHER BENEFITS
Original Medicare
In this scheme, you will not be covered for ailments relating to vision, hearing, or dental services.
Medicare Advantage
It may cover the additional ailments mentioned above.
The above represents what you are expected to get from Medicare Advantage plans under any of the two divides.
