The Biggest Difference Between Supplement and Advantage Plans
Making a decision between Medicare plans can be difficult. Once you have your parts A and B, you generally have two choices for plans that will help cover the costs that Original Medicare doesn’t cover. Those choices are Medicare Supplement and Medicare Advantage plans. Each choice has its highlights. Depending on your current situation, one choice may be a better fit for you than the other. Knowing the difference between Supplement and Advantage plans can certainly help you make the right choice.
Doctor Choice
This is by far the biggest difference between Supplement and Advantage plans and the most commonly asked question. On a Medicare Supplement plan, you can generally see any doctor that takes Original Medicare. This is a pretty large list. It also means that doctors outside of Nevada will also usually be covered giving you more flexibility. On a Medicare Advantage plan, you will have a network of doctors to choose from. This is similar to how traditional insurance works. While many Advantage plans have large lists of doctors, it will not be as large as the network for Original Medicare. In addition, you will not have many doctors (or none at all) that you can see out of state. Although, many Advantage plans mitigate this by offering zero dollar Teledoc services. You can use these services to speak with a licensed doctor over the phone or even video chat such as FaceTime.
Monthly Premium and Medical Service Cost
Many Medicare Advantage plans have no monthly premium meaning you will pay $0 to join the plan. This often sounds too good to be true but that is not the case. The way that Medicare is set up to function with private insurance companies allows them to charge their members nothing to join. Medicare Supplement plans have a monthly service cost to enroll. The price varies depending on the plan you choose, but most are still very affordable. The rate will also depend on how old you are and where you live in your state. In exchange for a monthly cost, many Supplement plans cover almost all of your medical expenses. On the other side, Advantage plans will charge you copays for some medical services. Although, many Advantage plans usually charge you $0 for doctor visits and other low-cost services.
Speaking with a health insurance broker is the best way to compare plans to see which one will best fit your needs. As your broker, we will sit down and show you all the options for no additional charge. There are never any fees to use our services and you will always pay the same amount for your plan.
