Which Medicare Plan is better for you?
Depending on your situation, Medicare Supplement or Advantage maybe better for you. First, we look at benefits of Medicare Advantage plans and whether this maybe right for you. Then we look at Medicare Supplement plans and who best benefits for them. After reviewing Medicare Advantage and Supplements Plans, you will have a good idea which is best for you.
Medicare Advantage Plans
Many relatively healthy seniors prefer Medicare Advantage plans for three main reasons:
- Low monthly premium and covers prescription drugs
- HMO costs less and covers only in-network doctors and hospitals
- PPO costs more and covers both in-network and out-of-network doctors and hospitals
- “Pay as you go”, you will have copay’s for Medical Services: Doctor visits, Hospitalization, Lab Work, Advanced Imaging, etc…
Is a Medicare Advantage Plan right for you?
Medicare Advantage Plans are more affordable, costing you less in premiums and deductibles if you do not get sick or need hospital or medical services. However, when you do become ill and require a hospital or doctor’s services, you could have expense up to your maximum out-of-pocket limit of $6,700, depending on your plan. For example, with Medicare Advantage Plans, you will have copays whenever you use your plan. A Medicare Advantage Plan may be a good fit for you if you are willing to pay less every month at the risk of paying more when you need health coverage.
PPO vs HMO what are the benefits and costs differences? View our PPO vs HMO infographic.
Enroll or Change Medicare Advantage Plan
You can enroll or change Medicare Advantage Plan during Medicare Open Enrollment. This Annual Election Period is from October 15 through December 7. Furthermore, you can also join or disenroll during Medicare Advantage Open Enrollment between January 1 and March 31.
Senior Healthcare Direct can help you find the right Medicare Advantage Plan. We can help you find an Advantage Plan that includes your doctors and medications. Discover how to enroll or change your Advantage Plan and get the most cost-effective price.
Medicare Supplement Plans
Many seniors with underlying health conditions or otherwise need regular medical service prefer Medicare Supplement Plans for three reasons:
- Fixed monthly premiums makes your expenses more predictable
- A nationwide network of doctors and hospitals gives you more flexibility
- Does not cover prescription drugs (separate Part D plan required)
- Plans may cover all hospital and medical expenses without copays or coinsurance
Is a Medicare Supplement Plan right for you?
Many seniors who use their health insurance prefer Medigap Plans. When you add up the cost of hospital deductibles $1408 in 2020, which all Medicare Supplement Plans pay, a Medigap Plan could save you thousands over an Advantage Plan. For seniors who have known health conditions, Medigap Plans allows you to budget your healthcare expenses and make the costs more affordable.
For seniors who are fortunate to have both health of money, you may want to pay for a Medicare Supplement so you can avoid medical underwriting should you become ill and want to upgrade your coverage later.
Best Medigap Plan for 2021
In a MedicarBob video, Robert Bache gives his recommendation for the best Medicare Supplement Plan for 2021. Discover a Medigap Plan that saves you on monthly premiums and is a better value than Plan F. Furthermore, learn how the Best Medigap Plans compare and which plan is best for you.
Helping You Choose a Medicare Plan
Senior Healthcare Direct can help you choose a Medicare Plan. You can speak with a licensed agent to discuss which Plan is best for you. Call us toll-free at 1-855-368-4717 or get a quote.