Medicare is a national social security program administered by the government to ensure that people are able to access affordable health care needs as they reach the age of 65 and older or younger if they have serious disability or kidney transplant operation. It is considered a public health insurance that is obviously cheaper as compared to private personal health insurance. To choose which is better for you is a good question that would require certain factors to consider.
- Budget. As said, Medicare is far cheaper than any private health insurance out there. Since it is administered by the government, it is made accessible by those who are not financially well of. So if you are those who are struggling financially, make sure to at least have Medicare since it is better to have yourself insured than nothing at all.
- Benefits. Despite the improvement under the Affordable Health Care Act of president Obama, Medicare offers less than those in the private health insurance. It only offers normal and basic health care needs as compared to private insurance companies which tend to have an answer to all your possible health care needs.
- Credibility. As owned by the government, you can be sure that you can avail what s entitled for you under the Medicare policy. There are fraud private health insurance companies that can make you end up being a victim with wasting your money with no benefits at all. If you choose to go for a private health insurance, just make sure the company you’re applying have good credibility with satisfied patients.
- Processing time. Normally government would take longer time to process your request to access your benefits since there are so many people they have to attend matters to. But there are also those bad private insurance companies who tend to lower their processing time for you to shoulder the expenses yourself. If that is the case, if the private health insurance does that, you can actually complain it and provide corrective actions for what they have done.
- Ease of access. This considers the way you are going to pay your premiums. For Medicare, it is already included under your Social Security deductions (see your payslip) which is more convenient for you. Private health insurance can collect through credit cards or paying on banks or to their office. At this case, private health insurance considers allowable period for delay of payments (when you are short to your budget) unlike in Medicare in which deductions are already made before you receive your salary.
Which among which you find better for you are both good as long as you have yourself a health insurance. I strongly suggest that if you can afford to have both, do so. Private health insurance is good to use especially if you are not yet on the age of 65. It also offers more health benefits only that it is more expensive. Still, I think you’ll be able to relax more in case of emergency when you know you have two insurance to back you up. Just make sure to understand their respective policy before you start paying for it.