Is a Medicare Advantage plan better than a supplement?
Two things generally keep most people to be entirely satisfied with their Original Medicare plan, i.e., the lack of eye and dental care coverage and erratic out of the pocket costs.
Private Medicare plans (Medicare Advantage and Medicare Supplement plan) can help you with these two issues, but everything comes with benefits and downsides.
To wisely determine which plan may fit your needs, it is important to know your health care needs and your financial stability. It must be noted that you cannot have both a Medicare Supplement and Medicare Advantage plan.
Let us have a look at what you need to know before choosing between Medicare Advantage and Medicare Supplement plans.
Medicare Advantage Plan V/S Medicare Supplement Plan
Below we have mentioned some key points to be considered while choosing between a Medicare Advantage and a Medicare Supplement plan.
| Medicare Advantage Plan | Medicare Supplement Plan |
| You might need to use the stated hospitals and doctors in the plan network. | You can choose your hospitals and doctors that agree to take Medicare patients. |
| Depending on the plan, you might require referrals to use network specialists. | You can see specialists without recommendations. |
| Under the Medicare advantage plan, emergency care is generally covered for travel within the United States and sometimes abroad. Therefore, non-emergency care will depend on the service area covered in your plan. | Under the Medicare supplement plan, the health care cost is covered when you travel across the US. Moreover, depending on the plan, it may also cover health care costs while traveling abroad. |
| It must be noted that based on your health status, you cannot be denied coverage under this plan or charged more. | Regardless of your health status, you are guaranteed coverage at the best available rate for you, if you apply during your Open Enrollment Period. |
| You can enroll or switch to a Medicare Advantage plan during a specific period in a year. | You can apply for a Medicare supplement plan any time after you turn 65. |
| You will have to pay copays, coinsurance, and deductibles out of your pocket when you use services. | Depending on the plan selected, you will have low or no copays and coinsurance when you use services. |
| In addition to your Plan B premium, you generally pay a low or $0 monthly plan premium. | In addition to your Part B premium, you will have to pay a monthly plan premium for Medicare-approved doctor and hospital services. |
| Prescription drug coverage is included with most Medicare advantage plans. | Prescription drug coverage is not included with Medicare supplement plans. |
Medicare covers only about 80 percent of health care costs; therefore, it is wise to enroll yourself with a Medigap plan that can give you fuller coverage. Medigap or Medicare supplement plan is specially designed to work well with Medicare advantage plans.
Before choosing a plan, juggle through your priorities well, like budget, health conditions, travel, and choice. However, for people with long-term health issues, Medicare Advantage can be more affordable; Medigap or Medicare supplement plan will expand your network and provide you with flexibility and choice.
Disclaimer
I undertake that I am the original author of the above blog and it is free from plagiarism, not under consideration by another proprietor or company or anyone whosoever, and has not been previously published on any online/print platforms.
I hereby unconditionally transfer all copyright and full ownership in and relating to the above blog who may use it with or without modifications.
Name: Vikas Gaur
E-mail: vks.gaur1@gmail.com
Date: 22/11/2021
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