What differentiates Medicare Supplement from Medicare Advantage?

Medicare Supplement Plans Versus Medicare Advantage Plans - What Makes Them Different?

It's important to understand the questions that will help you make a decision before deciding which Medicare path is best for you.

Do You Value the Doctors, Specialists, and Hospitals You Can Choose?

You may choose any doctor or hospital in the country with a Supplement Plan, as long as they take Medicare patients. You may not always be able to see the physicians or specialists of your choice with Advantage Plans since they usually require you to use hospitals and doctors within their network.

How Many Times a Year Do You Go to the Doctor?

Copays and possibly even deductibles are commonly required for Advantage Plans. If you visit your doctor twice a month and your co-pay is $30 for each visit, your monthly expenses may soon mount up to $60. On the other hand, you may save money with a Medicare Advantage Plan if you don't visit the doctor much. There are typically no out-of-pocket costs (like copays) associated with Supplement Plans. So, this could be a better choice for you if you see your doctor frequently or have any planned operations.

Which Would You Prefer - Having a Fixed Monthly Budget or Paying Expenses Out of Pocket?

Although Advantage Plans will reduce your monthly premiums, you will still be responsible for paying out-of-pocket costs for using your coverage from any unexpected medical procedures, hospital stays, etc. In contrast, with Supplement Plans you have an allocated amount that you pay for your monthly premium that is higher than an Advantage Plan. However, you don't have to worry about paying for medical visits out of pocket or unplanned hospital stays.

What Monthly Premium Fits your Budget?

Medicare Advantage Plans range from $0 to $77 per month, while Medicare Supplement Plans can cost anywhere from $105 to $346 for a 65-year-old person in California. But bear in mind that Medicare Part B is an additional expense. Nevertheless, compared to a Supplement Plan, your total monthly premium for an Advantage Plan would still be less. You should also be aware that Advantage Plans come with higher out-of-pocket costs.

Do You Have Any Plans to Travel or Do You Travel Often?

With Supplement Plans, you may visit any physician in the country as long as they take Medicare. A Supplement Plan would thus be a good choice for you if you travel frequently and want to see doctors in other states. If you're a patient who only visits doctors in your area and seldom travels, an Advantage Plan could be ideal for you.

When you initially enroll in Medicare, choosing a Medicare Supplement Plan or Medicare Advantage Plan is one of the most crucial choices you will have to make. Even though each form of coverage has benefits and drawbacks, it's critical that you choose the one that best suits your requirements and financial situation.

We've included a handy graphic to help you compare the benefits and drawbacks of the Medicare Supplement Plans and Medicare Advantage Plans.

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