What is the difference between Medicare Supplements and a Medicare Advantage Plan you ask? Medicare Supplements are guaranteed renewable. They don’t change from year to year, like a Medicare Advantage Plan can do. Supplements are secondary to Medicare, meaning original Medicare, Parts A & B, are your primary coverage and the supplement picks up where Medicare leaves off, depending on what Plan you have. There are many choices, Plan F being the most comprehensive supplement plan. Our clients typically go with either Plan F or Plan N, depending on their needs.
There are many other differences between the two plan types, but here’s a few of them:
- Guaranteed Renewable
- Always has some premium cost
- You can go to any doctor that takes Medicare, in the entire country
- You need to add a Stand Alone Drug Plan – Part D
Medicare Advantage Plans
- Guaranteed until Dec 31st of the year you are signed up for
- Often is less expensive, low premiums or $0 cost
- You have to stay in the PPO or HMO network (Santa Clara County only has HMO’s)
- Part D Drug Plan is included in the HMO (for most plans)
If you haven’t reviewed your plan since you originally enrolled into Medicare, you should definitely do a review and make sure what you have isn’t costing you more than necessary. Feel free to give our office a call to do this plan review with you. We can be reached at 408-848-2271 or email email@example.com. There is no cost for our services.