It is no secret that all of us need a medical plan. It does not matter what your background is or your financial status, you require a medicare plan to look after your health. But the problem is that you will have to opt for a specific plan based on your needs and requirements. In other words, not all medicare and insurance plans are the same.
The subscription model is different; the perks and benefits are different; and so is the medical coverage. However, there are two fundamental medicare plans in the U.S. that you can opt for: Federal run insurance – i.e., Original Medicare – and private insurance – AKA Medicare Advantage (MA) Plan.
Mikhail / Pexels / Original Medicare is run by the federal government, and Medicare Advantage Plan is run by private companies.
One of the easiest ways to differentiate between Medicare Advantage Plan and Original Medicare is thinking of them as ordering food in a restaurant. There are two kinds of menus that you can opt for in a restaurant. For instance, if you are looking to order a prix fixe meal, you will have all the options available to you. The menu is already preset for you, and you do not have to order ‘manually.’ This is what Medicare Advantage Plan is all about.
In Medicare Advantage Plan, the health coverages are already laid out for you. All you have to do is opt for a private company and see which ‘plan’ best suits you. Keep in mind that the premium features of Medicare Advantage Plans are quite costly. Although this plan gives thorough coverage of health, it costs a lot. So, you will have to be mindful of it.
Andrea / Pexels / Medicare Advantage (MA) Plan is more like ordering a prix fixe meal where everything is already laid out on the menu.
On the other hand, Original Medicare is more like ordering a buffet where you will have to decide on what you are looking to eat. In other words, you place your order ‘manually’ by deciding what you are looking to eat.
This is what exactly Original Medicare is all about. You will have to select the features that you are looking for manually. The pricing, features, and coverages will be added to your plan based on your selection.
With that said, here are some of the features that you will get from the Original Medicare Plan:
Part A
As the very fundamental part of the plan, Part A will give you hospital care. This means that you will have access to all the requirements that a patient needs in a hospital.
From hospital bedding to other requirements, Part A will ensure that you have access to all of them.
Kampus / Pexels / Unlike MA Plan, Original Medicare is more like ordering a buffet – where you will have to ‘manually’ decide what you want.
Part B
Next up: Part B will ensure that you have access to all the “outpatient” services. From doctor’s visits to lab tests, everything will be covered in Part B.
Original Medicare offers Part B. On the other hand, different companies have different plans for Part B in MA Plan.
Part C
Lastly, Part C will ensure all the prescription drugs.
So, all three parts are included in Original Medicare. As for the MA Plan is concerned, different companies have different requirements to avail of these perks. Keep in mind that if you are going with the MA Plan, make sure that you are choosing the right company. Because the perks of the MA Plan vary from one company to another.
