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 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. As a perhaps 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
Medicare supplemental health insurance is confusing and may seem to be overwhelming to many. Maybe this will help. There are two major categories of supplemental plans: government designed plans and government contracted plans.
Government designed plans are the Medicare Supplements or Medigap policies. They come in 12 standard choices with two of the choices available with a simple modification. The choices are called Plan A, Plan B, Plan C, Plan D, Plan E, Plan F, Plan G, Plan H, Plan I, Plan J, Plan K and Plan L and the modified plans are the High Deductible Plan F and the High Deductible Plan J.
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.
One important thing to remember. You don't have to waste much time trying to figure out which company's Plan F Medicare Supplement is better than the other company's. The government designed the coverage and the insurance company is just providing these senior health benefits. Cost is the major difference between two or more Plan F policies other than customer service and quality of company issues.
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 providing these senior health benefits. 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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