Monthly Archives: | November, 2017

Medicare vs. Private Health Insurance: Part 2

Finding health insurance to cover costly, chronic conditions can be difficult, and we know that looking at a variety of health care plans can be overwhelming. One common choice for seniors and individuals with disabilities is Medicare. While Medicare may be the right option for some people, others may need Medicare supplement insurance, private health insurance plans commonly known as Medigap plans. In the previous installation of this series, we talked about some of the details of basic Medicare coverage. In this second part of this series, we will be taking a closer look at commercial health insurance plans. About Medicare Supplement Insurance At the most basic level, commercial health insurance helps consumers avoid risk. By pooling risk among a large group of consumers, either through a company health plan or the individual market, insurers spread out this risk to lower individual health care costs. However, while many people transition to public coverage like Medicare after they turn 65, this coverage is not enough for everyone. By investing in additional Medigap plans, consumers can benefit from expanded coverage for essential health benefits, prescription drugs, and more. If you choose to look into plans other than Medicare, there are a few issues