It is one of the most common expenses that we include in our monthly expenses is to pay the premium of medical insurances. Most commonly the premium which we pay is for the Original Medicare Insurance. Many of us are unaware the entire medical bill is uncovered by the Original Medicare Plan.
The Original Medicare Insurance is generally provided by the government bodies but there is another type of Medicare Plan known as Medical Advantage Plan which is provided by the private insurance agencies. The work of this insurance plan is to bridge the gap between the Medical Bill and the money sanctioned by the Original Medicare Plan.
What is a Medical Advantage Plan?
A Medical Advantage Plan is not a stand-alone insurance, and it requires an Original Medicare Plan in place to avail its benefits. Many people who confuse Medigap with Medical Advantage Plan. The work of the Medical Advantage Plan is to enhance the benefits of an Original Medicare Plan. The Medical Advantage Plan covers the expense of hearing and visual aids. It also covers the expense of private nursing service.
The 2019 Medical Advantage Plan does not cover the above-mentioned expenses. The advantage of owning a Medigap is it, not only funds the expense that an Original Insurance does not, but this plan can be used outside the national boundaries of the United States. It does not cover the expense of Type D prescribed drugs, but it does cover the expenses of availing the service of skilled nursing service.
Many private insurance agencies which sell Medical Advantage Plan. A person interested to buy this insurance plan can refer to several online websites which will help to choose the best plan for the particular person.
Grounds for disqualification:
Certain grounds which disqualifies a person from owning the Medigap. If a person has a pre-existing medical condition, he may be disqualified from buying this plan. Some states in the United States which do not permit people under 65 to purchase the Medigap Plan. A person must have a valid Original Medicare Plan before buying Medigap. A Medigap plan covers one person at a time. So, if a person wants to fund his spouse as well with him, he must purchase two separate Medigap Plan.
The premium policy is different for different agencies. It is a very routine practice to consider the age of the insurer to calculate the premium or cost of the insurance. But some agencies calculate the premium value irrespective of age or gender.