Entering Medicare can be confusing, intimidating, and might leave you feeling vulnerable. There are countless predatory insurance companies and salespeople trying to win you over. It’s crucial for those 65 years old or over to stay informed regarding all options and make the best decisions possible in order to get the most bang for your buck. Navigating through the Medicare Advantage versus Medicare Supplement (also known as Medigap) plans is easier than you think. Read on for our pro- and con- list.

Medicare Advantage plans are cheap, but they automatically un-enroll you from original Medicare.

Pros:

• Monthly premiums are relatively inexpensive, with some costing $0 per month.
• Part D drug plans are usually included (for convenience, not efficiency.)
• Fitness memberships or other incentives are sometimes included.

Cons:

• Small and intricate medical networks determine your available medical providers. You most likely will have to change your doctor to become “in-network” before claims are covered.
• Extremely high out-of-pocket costs (OPCs) if you aren’t in perfect health.
• If OPCs rise due to illness or injury, you cannot revert to original Medicare, thereby paying the high OPCs eternally.
• Network restrictions equal limited nationwide coverage. Insurance is usually not applicable in remote medical facilities, so traveling is an issue. For example, The Mayo Clinic will not take Medicare Advantage plans.

Medicare Supplement (Medigap) plans cost more, but the coverage they provide is exemplary.

Pros:

• Almost everything is covered, depending on your plan. OPCs are relatively low/non-existent.
• Eligibility allows you to enroll in a supplement plan, not only during the Annual Election Period.
• Coverage is easier to comprehend and predictable.
• Doctors usually accept original Medicare and your corresponding supplement plan.
• Is almost always accepted nationwide.

Cons:

• Medicare supplement plans are more expensive than Medicare Advantage plans.

With either choice, you can continue to pay a monthly Part B premium to Medicare. The main things to consider are:

1. Do you want the choice of any provider or are you willing to choose a provider from within a network?
2. Would you rather buy a separate prescription drug plan or get drug coverage included in one plan?
3. Would you rather pay higher monthly premiums and have lower out-of-pocket costs for services or pay a low monthly premium and co-pays for services as you use them?

Your Medicare needs are personal. Navigating through the options can be confusing and misleading. To talk to a professional and learn more about Medicare, contact the experts at Senior Health Medicare today. Our agents are ready and available to help you make the best decision possible…for your health and wellbeing.

Senior Health Medicare is a superior resource for Medicare guidance, information, and ongoing client support. Selecting a Medicare plan is not a flippant decision. It requires annual revisiting and re-evaluating in order for the client to stay in the most cost-effective coverage. Senior Health Medicare is here to serve as your resource through all the years to come. Contact us today at 888-404-5049 or visit us on the web at www.seniorhealthmedicare.com.

Written by the digital marketing staff at Creative Programs & Systems: www.cpsmi.com.