This year is certainly one of many changes in this country, and none are more significant than what’s going on with our health care system. Many seniors are very concerned about what Obamacare will do to Medicare Supplemental insurance. This new health care system will affect many people, but thankfully not those with a Medicare Supplement.
Medicare Advantage Plans Might Suffer
Seniors are seeking alternatives to their existing Medicare Advantage plans. Medicare Advantage plans are private insurance entities. The corporation has an established agreement between Medicare and its beneficiaries in regards to what services should and should not be rendered under the contract. As a result, Medicare can only provide patients with certain services like HMO’s (health maintenance organizations), private fee for service plans, medical saving plans, special needs plans, and PPO’s (preferred provider organizations). It also covers all enrolled recipients as well as provides most of its enrollees with a prescription drug plan.
The elderly depend on Medicare for health benefits. The Obama Care plan could drastically affect the type as well as the quality of care seniors receives. A plan, meant to drive down cost, could do the complete opposite. Individuals under the MA Plan are afraid they will be smacked with a lot of out-of-pocket expenses.
Obamacare and Medigap
At this time there is nothing in Obamacare that will negatively affect seniors with Medigap insurance. While there have been talks of changing deductibles or premiums of original Medicare up to now this has all be speculation. People on original Medicare with a Medigap policy have nothing to worry about with Obamacare at this time.
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Seniors on Medicaid
According Actuary prediction, nine years down the road Medicare physician will be paid less than Medicaid providers. Today, Medicaid patients find it hard to locate service providers. Due to Medicaid provider shortage, many desperate parents line the walls of urgent care facilities, hospitals and even community based clinics. Years down the road, seniors might be in the same predicament under the Obama Care plan.
The original Medicare plan consisted of two parts Part A (hospital insurance) and B (medical insurance). Under Part A, most receivers do not pay monthly premiums because their spouse paid Medicare taxes while employed. Part B provided coverage to services not covered under part A (occupational therapists, some healthcare and physical therapists). Part B takes care of medically necessary supplies, services and some preventive services. This plan has a monthly premium. The original plan is superior because the recipients know exactly what they were entitled.
So although Medigap insurance will not be affected by Obamacare, that’s no reason to pay more than you need to. Remember each carrier has the exact same plans and benefits, yet their rates are entirely different. Use this website to get instant quotes from the top carriers in your area.