Medicare Plans, Supplement OR Advantage, Know the Good and Bad

A Medicare supplement plan is the one that offers the costs that the Medicare does not. Having a Medicare supplement plan means you enjoy using your Medicare white, blue and red card, besides the Medicare supplement card.

Now which is better?

Good news is that there is no such wrong answer. This is because both are good and offer better coverage. Here are the good and bad:

Medicare Supplement:

The Good:

  • Offers flexibility for the choice of hospital and/or doctor
  • Very little may be out of your pocket as expense
  • All the bills of the hospital is paid
  • Your doctor and you decide your care
  • Comparing prices and shopping is easy
  • There is no need for referrals, no PPO or HMO
  • It is good to carry wherever you go and offers coverage throughout the US
  • Facilitates electronic billing

The Bad:

  • Monthly premium additional amounting $75 to $180.
  • No vision or dental coverage
  • Every year monthly premium will increase
  • No coverage on prescription drugs ( It means you need Part D)

Precisely, Medicare supplement plan will incur a monthly additional premium, but allow you choosing your healthcare providers and the coverage. It is simple to budget on paying premium monthly and you will not receive a bill.

 Medicare Advantage Plan

The Good:

  • Low premium monthly, even $0
  • Insurance company assists in your care management
  • Dental or/and vision
  • Includes drug prescription coverage

The Bad:

  • Out of pocket cost is high reaching to $3500 to $7500
  • Hospital/doctor network: PPO or HMO
  • Referrals required
  • Limited coverage restricted to your country
  • Insurance company takes decision on your care

Precisely, a Medicare Advantage in 2018 functions with low monthly premium and same as any group health insurance. However, if your income is going to get reduced and you are retiring, it is very difficult to find plans at a health insurance budget as you never know how much you need each year and this makes planning difficult. On the other hand, the Medicare Supplement Plans have various features and coverage that can suit any individual even after retiring. You can consider by Medicare Supplement insurance through AARP and secure you senior years when you are in absolute need for a good and secure coverage that will attend to your timely needs or get the same from private insurance companies.

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