Do You Need Medicare Advantage Plans if you have Medicaid?

 

Medical insurance policies are of such importance that they are required by people of all ages. However, depending on the financial statement and the age and vulnerability of the policyholders are also taken into consideration while buying such plans. That is why it is essential to understand the particular terms and conditions of each individual policy and the benefits offered by them.

Often there arise some confusion about the nature and benefits of the Medicare Advantage Plans in 2019 and Medicaid plans. Many people are there who are the buyers of the latter and still are in the haze whether or not to avail the first. If you are also getting confused about the same matter, the following pieces of information are given here exclusively for you:

Medicare Advantage Plans vs. Medicaid plans

First, let us know what the Medicaid plan is all about. This plan is specifically offered for people with a lower financial asset. Children, pregnant women, people with disabilities, and the elderly people are the main sections of the society that derive benefits from this plan. On the other hand, the Medicare Advantage Plans are additional benefit plans that are added to the Original Medicare plans (intended for the elderly people and people with disabilities only) in order to get the monetary backup for the payments generous not covered by the Original plans. Depending on your income standard and the size of your family, Medicaid will help you in getting free or low-cost healthcare services whereas the advantageary plans will only provide the additional coverage to fill up the gaps of the Original Medicare.

What to choose

People having an acute scarcity of economic funding should definitely go for getting a Medicaid plan. Having such a policy will ensure that you will receive all types of medical assistance at the moments of emergency. However, the elderly people who have already registered with the Original Medicare plans and are willing to get the additional coverage should opt for buying the Medicare Advantage Plans. Apart from filling up all the insufficiency of the Medicare plans, these plans will enable them to obtain the following services as well:

  • Medical care outside the state or the US
  • Continuing backup without any expiry date (on condition that the premiums are paid timely)

However, the advantage plans are not effective in cases where the policyholders are suffering from optical/oral/olfactory problems, in need of long-term personal care, or are required to get prescription drugs.

To know more, please visit the governmental websites containing the details of these plans.