Much Confusion About Medicare Supplements

With all the goings back and forth regarding Medicare and Medicare Supplements in the Bush Administration and Congress, people are getting quite confused.  Add to the situation the fact that there are a lot of changes that the administration has proposed and tried to veto, and there are changes that Congress has over-ridden, with all sides trying to tell us that they are trying to fix the Medicare system before it goes from bad to worse.

Things are extremely confusing, but there are some straight answers to some of the questions out there.  One such issue is the phasing out of Medicare Advantage.  There has been quite a rumor going around stating that this phasing out is going to happen.  In actuality, Medicare Advantage is not going to be phased out.  Instead, the subsidies that the government pays to the insurers that sell the plan will possibly be in the future, but nothing has happened to date.

In light of the rumors, however, people have questions about what they should do with their old prescription drug coverage, such as Medicare Part J.  Many people want to know if it is prudent to keep what they have or change to Medicare Advantage.

Most advisers suggest that people switch out of their medigap/prescription drug plan (such as plan H, I, or J), since companies are phasing these plans out and are not selling these plans to new clients any more.  They are allowing people who already have them to keep their policies, but the premiums are higher than those of the Medicare Advantage and higher than Medicare Part D (for prescriptions), which is government subsidized. 

Medicare Advantage is sold by individual insurance companies.  You can switch to this plan and get your coverage for prescriptions that way, or you can get your coverage through Part D.  It is best to determine what is right for you.  The most important thing to do is to research the correct information and then get the coverage that is best for your circumstances.

Don’t let the confusion draw you in.  Find out what you need and make sure to get it so that your prescriptions are taken care of.