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Finding a CheapSenior Health Insurance Plan

Guest post by: Alston Balkcom

Article Overview: If you are a senior looking for health insurance, you have a lot of choices today. You may find that having so many choices makes things more difficult. This article is here to help clear some of the fog.

Finding a CheapSenior Health Insurance Plan

If you are a senior looking for health insurance, you have a lot of choices today. You may find that having so many choices makes things more difficult. This article is here to help clear some of the fog. Medicare now has Part A, Part B, Part C and Part D. Each part serves a different purpose.

Original Medicare consists of Part A and Part B. Part A pays for treatment received in the hospital primarily. Part B pays for medical care in the doctor's office.

The coverage provided by a combination of Medicare Part A and B is not full coverage. You will probably want to purchase a Medicare Supplement policy.

Medicare Supplement is also known as Medigap. A Medigap contract can greatly reduce your exposure to the things that Part A and Part B will not cover. These policies can pay for your deductible in the doctors' office. They can also pay some of your coinsurance and copayments. None of the policies sold at this time will cover any of your prescription medicine costs.

You can get insurance for prescription medicines. Part C will sometimes cover drug costs. Part D is a standalone policy that only covers Rx costs.

Part C is not a supplement. It is designed to cover much of the same medical expenses that are covered by Medicare Part A and Medicare Part B and a Medicare supplemental policy.

Unlike Medicare Part A and B, the benefits are not provided by the tax dollars. Medicare Part C benefits come from private medical insurance companies.

Medicare Advantage is another name for a Part C contract. At this time these policies are inexpensive and are a great choice for many seniors.

The one major drawback of purchasing a Medicare Advantage contract is that it doesn't cover you well if you seek medical care from out of network providers. You will be covered if there is a medical emergency when you travel to another state, but routine care will only be covered in rare situations.

Medicare Part D is drug drug coverage. These policies provide much needed insurance for prescription medicines. Before these policies became available the plans that covered drugs were over priced and inadequate for many.

Prescription medicine insurance is not included in Medicare Part A or Medicare Part B. None of the currently sold Medicare Supplement policies provide this insurance. You can get medicine coverage through some Part C policies.

There are two ways recommended ways to get coverage that will take care of most of your medical needs. You can have Medicare Part A, Medicare B, a Supplement and a Part D prescription medicine contract. Alternately, you can have a Part C contract that provides the same basic coverage.

Each option has its own pros and cons. The best option for you may not be the best choice for your neighbor.

For many Medicare beneficiaries, it comes down to how well the Part C network works for you. Part C is almost always the less expensive option, so other criteria must be used to determine which option is best.

Since routine care isn't usually paid for if you seek care outside of the network, the network is a very important issue when making a decision. If your doctor is not in the network of a Medicare Advantage plan, you may want to keep Original Medicare and stay away from a part C policy. If you spend a lot of time away from home and will need routine care in an area not serviced by your contract, you may want to keep Original Medicare.

Once you have decided on what type of plan you need, you can go through the process of getting competitive quotes and determining which carrier and which policy will give the best combination of price and value. There are many websites that provide instant senior health insurance rates.

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Article Tags: choices, health insurance, health insurance plan, insurance
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