Medicare Advantage & Medicare Supplement

Medicare Advantage vs. Medicare Supplement

Individuals who are eligible for Medicare will notice that there are certain gaps in medical treatment that are not covered by Medicare Parts A & B. To cover these gaps, there are multiple options available. It fundamentally comes down to a choice of a Medicare Advantage Plan or a Medicare Supplement Plan. When choosing between the two, you need to consider a number of different factors. Below are some general considerations for those deciding between Medicare Advantage and Medicare Supplement.

What is a Medicare Advantage Plan?

A private insurance plan funded with government subsidies for enrollees to receive all of their health services from that company. This includes all Medicare covered services as well as additional benefits and services not covered by Medicare.  It has predictable out-of-pocket expenses such as premiums and co-pays. Comprehensive benefits above and beyond Original Medicare such as dental, vision and hearing may be included. In many plans, Part D, the Medicare Prescription Drug Plan, is built right into the plan.

What is a Medicare Supplement Plan?

A private insurance plan that covers some or all of the medical expenses not provided for in basic Medicare Parts A & B. Sometimes referred as “Medi-Gap” Plans, a beneficiary must have medicare Parts A & B. You pay a monthly premium to the insurance company for your standardized policy. the plans available are Plans A, B, C, D, F, G, K, L, M & N. They can help pay your Medicare deductibles and coinsurance’s and are typically accepted by physicians accepting traditional Medicare. If you purchase a Medicare Supplement plan and want to have prescription drug coverage, then you must buy a stand alone part D Drug Plan.

Contact an Insurance Specialist

We have many years of experience in the Medicare industry when it comes to understanding the difference between Medicare Advantage and Medicare Supplement Plans and Part D Prescription Drug Plans. Come see why our seminars have educated many seniors in understanding Medicare. If you have questions please give us a call to attend or set up a one-on-one appointment.