What is a Medicare Supplement Plan?

A Medicare Supplement plan can help pay some of the health care costs that Original Medicare doesn't pay, like deductibles, copayments, and coinsurance.

• Some Medicare Supplement plans offer coverage for services that Original Medicare doesn't cover, like medical care when you travel outside the U.S.
• Supplements come in standardized Plans A-N and the plans offer the same basic benefits no matter which carrier you purchase it from.
• Note: Medicare Supplements do not cover prescription medications, and for that we can show you how to get signed up for a Part D policy.

What is a Medicare Advantage Plan?

Medicare Advantage plans are offered by private companies that contract with Medicare to provide Part A and Part B benefits to people with Medicare who enroll in the plan.

• Some Medicare Advantage plans include Prescription coverage so you don't have to purchase a separate policy.
• There are different types of Advantage Plans, including HMO, PPO, etc.
• You must live in a plan's service area to be eligible for coverage and you can only join and leave Advantage plans at specific times each year.

What are some of the differences between Medicare Supplements and Medicare Advantage Plans?

• With a Medicare Supplement you pay upfront for your health care through monthly premiums. A good Supplement like Plan G, will generally result in almost no other out of pocket costs for Hospital and Medical bills (aside from your Part B deductible).
• With a Medicare Advantage Plan you pay for your health care as you receive services through copays / coinsurance for Dr. Visits, Emergency Room, and Hospitalization.
• Medicare Advantage plans often use PPO or HMO doctor networks that you must use to be covered or save more money. Medicare Supplements don't have a network and can be used anywhere, all over the country, as long as the provider works with Original Medicare.
• Outside of Guarantee Issue periods, Medicare Supplements are medically underwritten and you can join or leave plans whenever you like. There is no medical underwriting to join Medicare Advantage plans (however, if you have ESRD you are ineligible) but you can only join or leave advantage plans at certain times of the year.

How do I know whether a Supplement or Advantage plan would be best for me?

• Give us a call and we can do a needs analysis to determine which plan type would be most beneficial for you. It is also very important to go over the rules associated with Original Medicare, Supplements, and Advantage plans. Timing matters with Medicare, and if you don't choose a plan within specific timelines you can be locked out for a while or be subject to penalties.