Medicare Advantage Plans & Medicare Supplement Insurance

When you first become eligible for Medicare, you have two main options for health insurance coverage: Original Medicare and Medicare Advantage. Original Medicare consists of Parts A and B, which cover hospital stays, doctor visits, and some other services. Medicare Advantage plans are offered by private insurance companies and typically offer all of the benefits of Original Medicare, plus some additional coverage.

One of the key differences between Medicare Advantage plans and Medicare Supplement insurance is how they handle your out-of-pocket costs. With Original Medicare, you’re responsible for paying a deductible, coinsurance, and copayments for most services. Medicare Advantage plans typically have lower out-of-pocket costs, but they may also have more restrictions on your choice of doctors and hospitals.

Another difference between Medicare Advantage plans and Medicare Supplement insurance is how they’re sold. Medicare Advantage plans are sold directly by private insurance companies, while Medicare Supplement insurance is sold by private insurance companies and through some state health insurance exchanges.

So, which type of Medicare coverage is right for you? It depends on your individual needs and preferences. If you want to have more flexibility in your choice of doctors and hospitals, then Original Medicare with a Medicare Supplement plan may be a good option for you. If you’re looking for lower out-of-pocket costs and don’t mind being limited to a specific network of providers, then a Medicare Advantage plan may be a better choice.

Here is a table that summarizes the key differences between Medicare Advantage plans and Medicare Supplement insurance:

Choosing the Right Medicare Coverage

The best way to choose the right Medicare coverage for you is to talk to a licensed insurance agent. They can help you compare different plans and find one that meets your needs and budget. You can also use the Medicare Plan Finder tool on the Medicare website to compare plans in your area.

Here are some things to consider when choosing a Medicare plan:

• Your health needs
• Your budget
• Your choice of doctors and hospitals
• The type of coverage you want (Original Medicare, Medicare Advantage, or Medicare Supplement)

Conclusion

Medicare Advantage plans and Medicare Supplement insurance are both viable options for Medicare beneficiaries. The best way to choose the right plan for you is to talk to a licensed insurance agent at Ashford Insurance Group and compare different plans.