Which Medicare supplement to purchase?
I turn 65 in October, and I'm starting to get solicitations for various supplements to Medicare. I talked to the staff at my doctor's office and they said that most of their patients use United Health...
Forum Discussion
I am what I consider to be an expert in Medicare supplements and Medicare Advantage plans. I have been selling and servicing policies for almost 30 years.
Medicare supplement plans are lettered from A through N. They are all the same for each letter plan. A Plan F from United Health Care is the same as a Plan F from Blue Cross/Blue Shield in benefits. They pay the deductibles under Part A & Part B. They pay the co-insurance on Part B. It is pretty much buy it and forget about it. This is government mandated--so you can buy a Plan F with a lower premium and get the same benefits as the higher-priced one. If you want Rx coverage, you have to buy a Part D Medicare Rx plan to go along with your Medicare Supplement.
A Medicare Advantage plan is in lieu of orginal Medicare through a private insurer contracted with Medicare. Each one has to cover everything that original Medicare covers. They typically have a network of physicians and hospitals. Most plans include a Rx plan. The monthly premiums are typically lower than a comparable Medicare Supplement/Rx plan combo.
Each year from October 15th through December 7th is the Annual Election Period. During this time you can make choices to your health and/or drug plan for the coming plan year beginning in January.
There are lots of places to research and find the best plan for you. Medicare.gov is a good place and there are several other privately owned websites that have great resources.
Medicare supplement plans are lettered from A through N. They are all the same for each letter plan. A Plan F from United Health Care is the same as a Plan F from Blue Cross/Blue Shield in benefits. They pay the deductibles under Part A & Part B. They pay the co-insurance on Part B. It is pretty much buy it and forget about it. This is government mandated--so you can buy a Plan F with a lower premium and get the same benefits as the higher-priced one. If you want Rx coverage, you have to buy a Part D Medicare Rx plan to go along with your Medicare Supplement.
A Medicare Advantage plan is in lieu of orginal Medicare through a private insurer contracted with Medicare. Each one has to cover everything that original Medicare covers. They typically have a network of physicians and hospitals. Most plans include a Rx plan. The monthly premiums are typically lower than a comparable Medicare Supplement/Rx plan combo.
Each year from October 15th through December 7th is the Annual Election Period. During this time you can make choices to your health and/or drug plan for the coming plan year beginning in January.
There are lots of places to research and find the best plan for you. Medicare.gov is a good place and there are several other privately owned websites that have great resources.
