Medicare supplement plans or Medicare Advantage Plans - What’s better for me?

DECEMBER 27TH, 2008
By PETER CRISWELL

Medicare supplement plans or Medicare Advantage Plans - What’s better for me?

Medicare and different plans associated with it, can present an array choices that can be overwhelming and confusing.

Medicare supplement plans, also called Medigap plans, are add-on plans to the original Medicare plans, while Medicare Advantage plans look and act more like the plans you had before turning 65.

Medicare Advantage incorporates the features of Medicare Parts A & B, but also can have features that may be more favorable cost-wise, incorporating drug coverage as well.

Using Medicare Part D as a supplemental plan to original Medicare, one can add prescription coverage, but enrolling in a Medicare Advantage Plan with prescription coverage can offer the same coverage with other advantages as well.

Without going into all the relevant details in this blog, I would suggest that if you are already 65 and covered under Medicare or turning 65 soon, that you check with your agent to go over the differences in these plans in order to see what’s best for you.