About Medicare Advantage Plans
Medicare Advantage plan shopping in Oregon varies by where you live. Portland and the I5 corridor including Ashland, Medford, Grants Pass, Roseburg, Eugene, Albany, Corvallis and Salem have more choices than cities like Bend, Klamath Falls. Newport, Lincoln City, Coos Bay, North Bend, Pendleton, John Day, The Dalles, Tillamook, Seaside and Ontario which only has a single plan to choose from. Medicare Supplements (also referred to as Medigap policies); however, are available statewide.
Government contracted plans are the Medicare Advantage Plans and include Medicare Cost plans, HMO plans, PPO plans, and Medicare Private Fee For Service (PFFS) plans. For these plans, the insurance company and the government enter into a contract. Perhaps as an oversimplification, the government essentially provides the money and the insurance company provides the benefits and plan administration. The concept is that private industry can offer more benefits with the same money in exchange for some plan restrictions on your part, and they often do just that.
Important Considerations About Medicare Supplement Plans
Choosing a Medicare Supplemental health insurance plan can be confusing and may seem overwhelming, but to help keep it simple a Medicare Supplement/Medigap plan is categorized as a government designed plan. Medicare Supplements come in 10 standard choices, with one of the choices also having a high deductible version. The choices are called Plan A, Plan B, Plan C, Plan D, Plan F or the modified-high deductible Plan F, Plan G, Plan K, Plan L, Plan M, and Plan N. These plan choices offer various levels of coverage with Plan F being the most popular.
As the letters increase from A to J, the coverage generally increases and the premiums are generally higher. Plans K and L are lower coverage and lower cost alternatives. The high deductible versions simply impose a deductible before the insurance company pays any benefits as a way to cut your health insurance premium costs.
When choosing a Medicare Supplement, one important thing to remember is you don't have to waste time trying to figure out which company’s Medicare Supplement is better. The government designed the coverage and the insurance company is simply pricing health benefits the government designed. For instance, a Plan F plan is going to be the same with all companies offering this type of coverage, however the cost of coverage will vary between companies. No doubt premium cost will be a deciding factor in choice, as well as personal preference, and the quality of customer service the company provides. Try our “compare plans” tool and see for yourself which company provides the lowest premium.
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