Pros and Cons of Medicare and Aetna Medicare Supplement

People tend to gain information about Medicare when the Annual Enrollment Period (that ranges from 15th October to 7th of December) comes close. If a person is a newbie to Medicare, then he has to make a lot of different decisions. However, for old heads evaluation can be made for healthcare plans and prescription drug coverage.

In this article, we are going to take look at the difference between Medicare and Medicare Supplement Plans in terms of their pros and cons. We can think of it as Medicare Supplement vs. Medicare, and your choice will depend upon your needs, and you can make changes if you want to during Annual Enrollment period as well.

Original Medicare coverage

The Original Medicare provides coverage for the following things:

  • Part A: Used for providing coverage for Hospitalization.
  • Part B: To pay fees for doctor visits and hospital equipment.
  • Part D: Provides coverage for prescription drugs and is a stand-alone plan.

Medicare SupplementCoverage

These are also known as Part C plans and are offered by private insurance companies. It consists of many plans such as Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO). These plans act as a package which consists of all major things such as Original health insurance Parts A and B and also Part D prescription drug coverage.

Original health insurance pros and cons:

  • One of the best things about Original health insurance is that it does not require its enrollees to only use the in-network doctors and hospitals.
  • The out-of-pocket costs are very high.
  • The usage of Medigap policy can reduce Out-of-pocket costs.
  • The federal government controls this policy.

Medicare Supplementpros and cons

  • Acts as a package which contains all of the major things (Parts A and B along with Part D prescription drug coverage)
  • You find some plans which contain as low as $0 premiums
  • Some plans also offer supplemental benefits such as routine vision, hearing, and dental check-ups and also some fitness programs like gym memberships.

Things you can do during Open Enrollment

  • Convert your Original health insurance into health insurance SupplementPlans.
  • Revert back to Original health insurance.
  • Moving from one plan to another, for example, switch from HMO plan to PPO plan.
  • Enroll in a health insurance prescription drug plan.
  • Fully removing prescription drug plan.