There are two different methods in which someone eligible for Medicare can receive the programs benefits. The first is called "fee for service," sometimes also referred to as "traditional Medicare" or "Basic Medicare." With this type of coverage, a beneficiary can receive healthcare from any physician, hospital, clinic, or other provider of service who accepts Medicare patients. Medicare pays the provider a fee for each for each specific procedure rendered during the date of service. For services Medicare does not fully pay for, the patient has several choices.
Different Medicare Options.
(1)Patients may pay out of pocket.
(2)Purchase a private supplemental insurance policy, more commonly known as "medigap" coverage which is designed to pay for what Medicare does not,
(3)Purchase Medicare Part D prescription drug coverage as part of a separate Part D Insurance plan.
(4)Apply for Medicaid coverage, which is a federal program for low income people that pays almost all of the health care expenses that Medicare does not pay, Even if you do not qualify for Medicaid, you can apply for subsidized coverage of prescription drugs through Medicare Part D.
The second method that people can receive Medicare benefits is through a managed care plan, called Medicare Advantage, offered by private insurance carriers and managed care providers. These plans cover everything that traditional Medicare does, plus additional services Medicare does not cover at all. These programs also eliminate some of the copayments and deductibles required by traditional Medicare.
These managed care plans are usually provided by health maintenance organizations (HMOs) and are generally less expensive than the combination of traditional Medicare with a medigap supplemental insurance policy. However, managed care plans limit the health care providers a patient may use. And sometimes impede access to specialist by not authorizing treatment or limiting care.
Understanding your Medicare eligibility is important. Not knowing the different options available to you could mean the difference in terms of economic feasibility and also the preservation of your health. If you need assistance in researching or navigating the multitude of options available to you, please visit our website at http://www.health-insurance-buyer.com and leave your contact information. One of our licensed agents will call you at your convenience and help explain in detail what is for most a very complex subject in a way you can understand.
Carlos Diez is a senior benefits consultant for Health Insurance Buyer a referral service that refers consumers to the insurance carriers that can best fit their wants and needs. He holds life, health, and annuity licenses in 48 states and is appointed with over 88 carriers. For contact information please reach him at http://www.health-insurance-buyer.com
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