Medicare Advantage vs Supplemental Plan

by | Jun 23, 2020

Medicare Advantage vs supplemental plan? Medicare Advantage also known as Part C is another choice to Original Medicare Parts A and B. Medicare supplemental insurance otherwise known as Medigap can be added to Original Medicare Parts A and B. It is a different way to get your benefits from Medicare.

 Medicare Advantage plans and Medicare supplemental plans are both obtainable by private insurance companies that are approved by Medicare. Whichever you choose you will pay Part B monthly premiums to Medicare. Below are some things to consider when asking yourself, “Medicare Advantage vs Supplemental Plan?

 

  • Do you want to be able to choose any provider or are you alright with choosing a provider within a network?
  • Do you want a drug plan that’s included or do you want to purchase a separate drug plan for prescriptions?
  • Do you want to pay more in premiums each month and have less out of pocket expenses for services or pay less or even $0 each month and then make co-pays for those services as you need them?
medicare advantage vs supplemental plan

Medicare based on your needs

Whatever Medicare plan your friends or family members have shouldn’t matter. Your Medicare needs are personal. Make your decision based on your preferences and needs.

Medicare Plans

When trying to decide between Medicare Advantage and Medicare supplemental plans, look at the bigger picture. In other words, how are you going to use your benefits, then take into consideration all the expenses of Medicare.

Medicare supplement plans have one purpose, and that is to help cover some out of pocket expenses that are not covered by Medicare Parts A and B such as co-pays, co-insurance and deductibles. Original Medicare has no cap on the costs and different plans will pay different costs. Your Medicare supplement premium plan will cost you monthly along with Medicare Part B and a prescription plan if you want to have one.

Everything will be covered with most Medicare Advantage plans including drugs all in one plan, as what you probably got from your employer. Your monthly premiums will be lower and will pay a co-pay or co-insurance when you use healthcare services. With Medicare Advantage, there is a cap for your yearly out of pocket expenses. Your premiums will not count toward the cap. You will keep paying Part B costs to Medicare.