Should You Choose Medicare Advantage or Medicare Supplement Insurance Coverage?
Here’s what you need to know before you decide
Medicare Advantage plans, sometimes called Part C, actually replace original Medicare (Parts A and B), while Medicare supplement insurance adds to it. Many people choose a Medicare supplement insurance plan, also called Medigap, for its flexibility and predictability.
Unlike Medicare Advantage plans, Medicare supplement insurance plans are standardized by the government, so you know what you’re getting. They also let you see any doctor that accepts Medicare patients – even when traveling. Most Medicare Advantage plans restrict you to a network, usually only operating within a specific region, which could potentially cause coverage gaps for travelers.
And while Medicare Advantage plans have lower premiums, they usually have copay and coinsurance fees for doctor visits. Most Medicare supplement insurance plans cover copays and coinsurance fees so there are little to no costs when visiting the doctor.
Here’s what you need to know about Medicare supplement insurance coverage:
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Do you want your claims paid quickly?
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Do you want customer service from a friendly, knowledgeable, U.S.-based team?
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Do you want to keep your own doctors and hospitals (that accept Medicare patients), with no provider networks*?
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Do you want little or no costs*?
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Do you want coverage that’s guaranteed to be renewed†?
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Do you want immediate coverage with no waiting period for preexisting conditions*?
A pre-existing condition is any condition for which the patient has already received medical advice or treatment prior to enrollment in a new medical insurance plan.
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