What's best? A Medicare Supplement or an Advantage Plan?
Supplements work with Medicare and allow you to see any doctor without restriction. Supplements have higher monthly, but predictable total cost. They have no co-insurance charges and additional preventative care benefits. They typically have a plan deductible and need a separate Part D prescription benefit plan. However, the costs are fixed.
Advantage Plans replace Medicare with private insurance restricted to a specific health network. HMO plans don't allow non-emergency care out of network. Plans that offer zero monthly premiums will charge co-insurance for treatment and co-payments for Doctor visits and hospitalization. Some plans also include other deductibles for treatment and prescriptions. These costs can amount to as much as $9,250 for in-network and up to $13,900 for out-of-network care each year.
A Supplement might be the answer if you prefer predictable, level costs and freedom to pick any Doctor or any care facility. An indemnity plan can cover your plan's deductible when emergency care is needed.
If you don’t mind being confined to a network and can risk higher costs, an Advantage Plan can be a good fit. With Medicare Advantage the key is to fill coverage gaps with an indemnity plan.
