Medicare

Medicare Advantage plans replace Original Medicare (Part A and Part B). When you buy a Medicare Advantage Plan, the insurance company — not Medicare — provides all your health coverage. You don’t lose any benefits. In fact, most Medicare Advantage plans include extra benefits for routine vision and dental care. Nearly all include Part D prescription drug coverage. 

In exchange for these extra benefits, you have to follow your plan’s rules. These guidelines often include using only approved network providers and getting prior authorization for certain tests and procedures.

Medicare Supplement plans complement Original Medicare. These plans cover most of your out-of-pocket costs with Part A and Part B. You still get your health insurance from Medicare, but your Medicare Supplement plan pays your deductible and coinsurance.

You usually don’t get any extra benefits with Medicare Supplement plans. If Medicare doesn’t cover a service, neither will your Medicare Supplement plan. Some plans do offer stand-alone vision and dental plans for an extra monthly premium. A few plans even include extra benefits at no additional cost.

Medicare Supplement plans don’t pay your out-of-pocket costs with Part D. If you buy a Part D plan, you’re responsible for the deductible and coinsurance.

Medicare Supplement plans don’t have restrictions such as provider networks and prior authorization. 

No matter which type of Medicare Plan you choose, you must continue to pay your Part B premium. If you’re one of the few people who pay for Part A, you’ll have to continue paying that premium as well.

You pay a separate monthly premium for Medicare Supplement plans. The cost of your premium depends on the plan you choose, your age, location, sex, and other factors. Premiums typically range between $50 and $250 a month and often increase in price as you get older.

You don’t have an annual deductible with Medicare Supplement plans unless you choose a high-deductible plan. Most Medicare Supplement plans pay your Part A deductible and coinsurance and 100% of your Part B costs after you meet the Part B deductible.

If you choose a high-deductible plan, your plan pays 100% of your costs after you pay $2,340 out-of-pocket.

Medicare Advantage Plans may or may not have an annual deductible, but most people have access to a $0 deductible plan. Some plans have a separate deductible for Part D.

How to choose between Medicare Advantage and Medicare Supplement plans?

We are here to help you navigate through the complexities of Plans and find the right plan that works for you.