When a senior joins Medicare at the age of 65, they will have Medicare Part A and Medicare Part B to help cover their medical expenses. Those expenses covered are only 80% and the remaining will be the responsibility of the Medicare recipient. Also Medicare does not cover dental, hearing, vision expenses or prescription drugs a physician may require for your health concerns. Deductibles and copayments may also not be covered and you will need to pay for these medical costs yourself. This can be a great concern when a senior is on a fixed budget and has limited savings to pay for these added expenses.
If you get an Aetna Medicare supplement it will help cover the 20% cost that you have remaining. Medicare supplement plans, also known as Medigap, are available from private insurance agencies and they are standardized by Medicare and are all the same among the agencies. They are known by the letters A-N. Each plan will cover different medical costs and you will be need to study which plan will be good for you. The difference will be in the monthly premium costs that each agency can determine and where you reside will also have an effect. One must have Medicare Part A and Medicare Part B to get a Medicare supplement plan. You will also need to get an additional plan called Medicare Part D, through Medicare and various companies, to help with the cost of your prescriptions. These are not included in Original Medicare.
A Medicare Advantage Plan already include Medicare Part A and Medicare Part B. You are still with Medicare, but you will get your Medicare benefits through your Medicare Advantage Plan instead of the government regulated Medicare plan. You must live in the area of where the Medicare Advantage Plan is issued and not have end stage renal disease and will have Medicare Part A and Part B. Some Medicare Advantage Plans may also cover vision, hearing and dental care and also may cover your prescriptions drugs. The plans are all different and cover various medical services and it is so important to really look at each one to determine what will meet your individual needs. As said before, cost of the premiums are determined by the insurance agency and can vary greatly, so one will really have to see what plan will be sufficient for your medical concerns and your monthly budget.