Don’t Confuse Medicaid with Medicare

First of all, keep Medicare and Medicaid separate in your mind. Most people only qualify for one or the other. Medicaid is based on income, while Medicare is based on age. Medicaid covers far more than Medicare, including the cost of prescription and co-pays.

Make Sure Medigap is Right for You

Keep in mind that Medigap plans are meant for people who are paying more for out of pocket medical care than they can afford on top of the Medicare payments. Therefore it stands to reason that before you can qualify for Medigap, you have to qualify for Medicare. However, there are other plans to choose from, so you need to learn about all of your options before trying to enroll in a Medigap plan.

Medigap and Medicare Advantage

One reason that you need to be careful about the plan you choose is that you can’t combine all plans. Medigap works with Medicare to reduce your costs. However, if you are enrolled in Medicare Advantage, you won’t be able to enroll in Medigap because your costs are already reduced. That’s why you really need to speak with a professional who can interpret your medical and financial needs to combine what they learn with the available plans to find the right combination for you.

Don’t Forget Prescriptions

In some cases, Medigap isn’t what you need at all. Perhaps you have one doctor’s visit a month to refill your prescription. In that case, a prescription plan may be more along the lines of what you are looking for than a Medigap plan. When your prescriptions cost more than your visits or other treatments, you need to at least consider a Medicare prescription plan.

Reading through all the jargon that defines each plan, benefits, and costs can be difficult enough without trying to compare your current costs on top of it. Talk to an insurance professional who can help you determine what plan or combination of plans will best serve you.

The post How to Choose the Right Medigap Plan appeared first on Affordable Health Insurance.