Medicare Planning

Medicare Supplement or Medicare Advantage plan? What’s the right choice for you?
Deciding between Medicare supplements or selecting Medicare Advantage plan can be one of the most challenging questions you will have to answer as you navigate your health care in retirement. Here is the basics on why you might choose one over the other:

Why Choose a Medicare Supplement?

1. Freedom of choice with doctors and hospitals. You can see any doctor or hospital in the U.S. who accepts Medicare. Over 93% of all providers nationwide accept Medicare.
   
2. Comprehensive coverage. There are 10 Medicare Supplement plans and no one plan is better than another. The plan you choose should be based on your needs and budget. Plans F, G and N provide very comprehensive coverage. Plan F is 100% coverage, providing you with no copays, deductibles or out of pocket percentage payments. You don’t pay when you see a doctor or are hospitalized. Plan G is similar to plan F but does not cover Medicare Part B deductible payments. While Plan N is a standardized insurance plan, it will require office and emergency room co-pays.
   
3. Predictability. Medicare supplement plans, coverage and benefits rarely change from year to year. On the other hand, Medicare Advantage HMO plans change their benefits, deductibles, out of pocket maximum and their network of doctors and hospitals yearly.

Why Choose a Medicare Advantage Plan?

A Medicare Advantage plans combines hospital, doctor and in many cases prescription drug cover. These plans can also include added benefits that is not offered by original Medicare. Medicare Advantage plans have lower premiums than Medicare Supplemental Plans, but you will pay copays and coinsurance for services as you go along.

The decision is a personal one. Your unique situation needs to be carefully considered before making the choice. Contact us today to schedule a consultation with our Medicare Specialist, Danielle McKenna.

Review an overview of plan types from medicare.gov here.