Q & A
Medigap Vs. Medicare Advantage: Which Is Better?
Answer: Like any massive insurance enterprise, Medicare is confusing.Medicare.gov will give you hundreds of pages of explanation, but luckily, the basics of the program aren’t difficult to grasp. As the cliché goes, however, the devil is in the details. Medicare has four basic parts – A, B, C and D. If you’re unfamiliar with how they work, read Medicare 101: Do You Need All 4 Parts?Taken together, Parts A (hospital care), B (doctors, medical procedures, equipment) and D (prescription drugs) provide basic coverage for Americans 65 and older. What’s relevant for this article is what these parts don’t cover – deductibles, co-pays and other medical expenses that could wipe out your savings should you become seriously ill. That’s where Part C comes in. Also known asMedicare Advantage, it’s one of two ways to protect against the potential high cost of an accident or illness. Here’s what could happen. Read more…
Source: Tim Parker, Investopedia - July 10, 2014
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