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Medicare Supplements, Advantage and Rx Plans

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Medicare Supplement vs Medicare Advantage

Have you ever found it overwhelming to decide which Medicare insurance or plan would be best?  All of us have.  It is one of the most important decisions you must make.  

Original Medicare (Parts A & B) is the most familiar.  While it covers many healthcare expenses, not all items are covered.  It is also covered at 80% of the allowable charges leaving 20% to be covered by yourself or another insurance option.  There are deductibles with orginial Medicare that must be met each year.  It also doesn't cover some expenses as routine vision and dental, prescription drugs, or overseas emergency health coverage.  With original Medicare, these expenses will be out-of-pocket expenses for you.

Medicare Supplements are used when Medicare remains your primary insurance and the supplement helps to cover all or part of Medicare Parts A & B allowable charges.  Medicare supplements do NOT include Part D (rx).  The customer is allowed to choose which Part D plan they prefer.  Medicare supplements in most cases pay all or part of the Medicare coinsurance (20%).  Most significant of all is that while Medicare Advantage plans can change every year, supplements do not.  Also, there is no network of doctors.  You can go to any doctor or any hospital if they accept original Medicare.  There are no referrals.  Eyeglasses and dental are usually not included.

Medicare Advantage  plans have become very popular and can be cost effective.  This insurance will take the place of your original Medicare and it can offer additional benefits.  Plans can change yearly in regards to coverage options, monthly premiums, out-of-pocket expenses such as copays, coinsurance, and maximum out-of-pocket expenses. Many  plans offer a "built in" Part D (rx).  You are only allowed to use their plan coverage.  Medicare Advantage requires you to use a network of providers except in an emergency situation.  Many require referrals from your primary doctor.

For more extensive information, please contact our agents.