Understanding the Difference Between Medicare Supplement and Medicare Advantage Policies
For those that are 65 and older, Original Medicare, provided by the government, includes Part A (hospital) and Part B (outpatient) coverage. However, it covers only 80% of an individual's medical expenses.
To bridge this gap, one can opt for a Plan G Medicare supplement, also known as a Medigap policy, which covers all but $226 annually of the 20% not covered by original Medicare.
These policies are provided by various insurance carriers and not the government. They offer the flexibility to choose any doctor or facility in the U.S. that accepts Medicare.
Alternatively, you can enroll in a Medicare Advantage (Part C) plan, where an insurance carrier manages your Medicare benefits. These plans typically include prescription drug coverage and other supplemental benefits. However, they have more limited provider networks, and the annual maximum out-of-pocket cost can be as high as $8,000.
Choosing the Right Health Plan Network
At Direct Source Insurance, for ages 18 through 64, we recommend PPO network health insurance plans. They offer the flexibility to choose your own doctors and hospitals and pay the same benefits regardless of whether the provider is in or out-of-network. Unlike HMO and EPO network plans, PPO plans do not require a referral from your primary care doctor to see a specialist.
Your Path to Insurance Policy Selection with Direct Source Insurance
At Direct Source Insurance, we provide professional services to help you locate a suitable insurance policy at no cost.
Year-Round Enrollment for Health Plans
We offer health plans that you can enroll in at any time during the year, with no requirement for an open enrollment period or a special life-changing event. Most of these plans can start the day after you apply for coverage.