You turn 65 and have to make a decision. Which is better? Medicare supplement or Advantage plans? Your initial enrollment in Medicare at age 65 can be frustrating and overwhelming. Did you get your FREE Medicare supplement quote yet?
- Medicare supplement or Advantage? Which one costs less?
- Are $0 premium Medicare Advantage plans a good deal?
- Since I want to keep my own doctors, is Medicare supplement plan F right for me?
- I am healthy and don’t see a doctor very often. It seems the $0 premium plans are good for me.
- My spouse is always in the doctors office. Will they have to make a copay for every visit?
Can we talk? How will you pick the right plan that meets YOUR needs and YOUR budget for age 65 and beyond? Give me a call anytime.
Medicare Supplement or Advantage. Which plan costs less?
As long as you are healthy, the $0 premium Medicare Advantage plan is great. But you might want to set aside an extra $300 per month or more in a “rainy day” fund. When your health changes the Medicare Advantage plans are like a leaky bathtub that loses water faster than it comes in.
What if you are not be able to come up with enough money to pay all your bills because you were sold an Advantage plan? Is this really what you want in your golden years?
Advantage plans are great for healthy people who never go to the doctor or hospital.
If you are living on a fixed income and need to budget your monthly expenses, a Medigap plan is usually the better choice. Your Medicare supplement plan F means you will never have to worry about paying for hospital or doctor bills.
$0 Premium Advantage Plan Seems Like a Good Deal
Yes it does seem like a good deal, and that is often the way it is sold by agents looking for an “easy” sale. When choosing Medicare supplement or Advantage, most agents will push the Advantage plans, especially the ones with $0 premium.
Do you know why?
An agent will earn 2x as much when you buy an Advantage plan vs. what they are paid to offer a Medigap plan.
And that $0 premium is so easy to pitch to someone on a fixed income . . .
What is better than free?
Medicare supplement or Advantage? Which is better for you and which is better for the agents bank account?
If you are struggling to pay your bills now what will happen when you need to see a doctor or have some tests and the Advantage plan requires you to come up with $500 or more to get the care you need?
A Medicare supplement plan makes it easy to stick to your budget without worrying about surprises.
Do You Like Your Doctors? Who Doesn’t?
If so, you probably want a Medicare supplement plan F or even G.
Almost every doctor, hospital, lab and clinic in the U.S. accepts Medicare patients. When you have a Medicare Advantage plan the insurance carrier tells you which doctors you can see.
Less than half the doctors in Georgia participate in ANY Medicare Advantage plan and the ones that do won’t participate in all plans. Your chances of finding a doctor that participates in your Advantage plan could be very slim.
Even if your doctors currently are “in network” for your Advantage plan they may drop out at any time. When that happens you find a new doctor.
If you don’t want to continually hunt for new doctors, then the answer to Medicare supplement or Advantage becomes an easy one.
Advantage Plans are Great if You Never Get Sick
But when your health changes, you will wish you had a Medicare supplement plan and by then it is probably too late to switch.
Advantage plans are “pay me later” plans. You pay little or nothing on a monthly basis but when you need to use your plan you pay and pay and pay. Oh sure, they have an out of pocket limit that in some cases is capped at $6700 (in 2018), but that is only for IN NETWORK expenses.
When you go out of network, and that is very easy to do, the out of pocket limit becomes meaningless.
Medicare supplement plans don’t have any networks so you pay the same regardless of the doctor, clinic or hospital you use. No penalties for seeing the wrong doctor or being admitted to the wrong hospital.
Medigap plans are great when you are on a shoestring budget.
So which is best for you? Medicare supplement or Advantage?
At Georgia Medicare Plans we explain all your options, including Medicare supplement or Advantage plans, and let you decide which one is best for your needs and your budget. We encourage you to get a free Medigap quote and review up to 40 different plans from a number of carriers. Click the banner above to shop and compare Medicare supplement plan costs.