November 27 2020
The new decade has brought forward many challenges that no one could have imagined a year ago. People have been shifting to their second homes and are staying there for an extended period. The cities worldwide have deserted streets, and people are conducting business from the security and comfort of their homes. Online businesses are booming as logistics and warehousing are growing in parallel. With this new decade, people are also taking their health insurance policies more seriously and looking for ways to cover any expenses they might incur to stay healthy.
The deathly touch of COVID-19 has stopped people in their tracks and forced them to find solutions for unforeseen problems that have become a reality. Medigap (Medicare Supplement insurance) and Medicare Advantage plans with online enrollment have become a discussion topic from Florida to New York. The benefits of staying within the confines of your home or office and customizing your insurance are manifold.
Benefits of online enrollment
For online enrollment to Medigap or Medicare Advantage plans, an appointment for your local Social Security office is not required during the COVID-19 pandemic because officers are not meeting walk-in visitors. Usually, you could wait 3-4 weeks to meet someone. With the convenience and security of applying online, you can start immediately or wait for a convenient time to sign-up. Your application for online enrollment can be saved, and you can goback to it later without losing any of your information on the form.
Medicare coverage from private companies
Private companies offer Medicare Advantage and Medicare Supplement insurance, which is one of the few similarities between both plans. Both these options are commonly used to replace or supplement Original Medicare. Medigap works in parallel to Original Medicare coverage. Whereas, Medicare Advantage plans are an alternative means to get Original Medicare and offers additional benefits. These plans are significantly different where costs, benefits, and how they work are concerned.
There are some out-of-pocket costs related to Original Medicare, such as co-payments, co-insurance, and deductibles. If you're enrolled in Original Medicare, you can purchase a Medigap insurance plan to help with those costs. Medicare Advantage plans are an alternative means to receive your Medicare benefits through a private insurance company approved by Medicare. They must include all your Medicare Part A (hospital insurance) and Part B (medical insurance) coverage but can offer additional benefits not included in Original Medicare. There are many benefits to attract consumers, like some vision, hearing, dental, and fitness programs (like gym memberships). Some plans may offer coverage for services like transportation for doctor visits and over-the-counter drugs.
As researchers inch closer and closer to a successful vaccination for COVID-19, we have seen the catastrophic losses incurred by a single mistake attributed to China's meat market. People will talk about the pandemic for decades, and seniors with poor immunity who have survived unharmed permanently will always be grateful to modern medicine. Most insurance companies would have redesigned their plans to include COVID-19 and related health issues in their coverage, which will be vital in the next few years. They have already paved the path for better customer experience through online enrollment for Medigap or Medicare Advantage plans.