Medicare Plan Choices

Are you new to Medicare or do you just need to make sense of your Medicare Plan Choices? Any health insurance can be confusing and Medicare is no different. We bring you the resources to make sense of it all. Whether you need to find the best Medicare Advantage Plan in your area, need to find an affordable Medicare Supplement, or need a Part D prescription drug plan, we can give you honest advice and point you in the right direction..

Our goal is to provide valuable resources and timely information on topics related to Medicare Plan choices, senior health insurance and topics related to retirement and retirement planning.

Evaluating Medicare Plan Choices

Given today's choices, very few Medicare beneficiaries opt to have only original Medicare Parts A and B. Many people choose to purchase a Medicare Supplement, otherwise known as a Medigap policy. The plans are standardized no matter which insurance company you purchase from and a premium is paid to the insurance company to fill in the gaps that Medicare doesn't cover. Medicare Supplements do not provide Part D prescription drug coverage and a stand alone Part D plan is recommended.

For those that don't want or are unable to afford a Medicare Supplement there is another Medicare Plan choice. Medicare Advantage Plans have low premiums or in some cases no premiums and often include the Part D prescription drug coverage. These plans are not Medicare Supplements and you cannot have both a Medicare Supplement and an Advantage Plan.

An Advantage Plan is a Medicare Plan where a private insurance company is contracted with CMS (Center for Medicare and Medicaid Services) to administer your Medicare Plan and pay claims related to your care. Advantage Plans often include additional valuable services not normally covered by Medicare, including; dental, vision, hearing and often gym memberships.

Popular Advantage Plans include private fee-for-service plans, PPOs and HMOs.

• Private fee-for-service plans allow you to choose any provider that accepts Medicare assignment and accepts the plan's payment terms and conditions.
• PPO plans include a provider network where you have flexibility to see providers without a referral. Members may go out-of-network, but will generally have lower cost sharing in network.
• HMO plans require you to choose a primary care physician that coordinates your care with other providers. You may or may not have the freedom to receive care out-of-network.

Here's the official definition of:

Medicare Advantage Plans are health plan options (like an HMO or
PPO) approved by Medicare and offered by private companies. These
plans are part of Medicare and are sometimes called "Part C" or "MA
Plans." Medicare pays a fixed amount for your care every month to
the companies offering Medicare Advantage Plans. These companies
must follow rules set by Medicare. Medicare Advantage Plans provide
your Medicare health coverage and usually Medicare drug coverage.

There are two fundamental points that you must understand about
Medicare Advantage Plans.

Advantage Plans are part of Medicare. Enrolling in an Advantage
Plan does not mean that you are leaving or dis-enrolling from
Medicare. You are still in Medicare, your Advantage Plan is being
administered by a private insurance company that must follow the
rules set by Medicare.

A Medicare Advantage Plan is not supplemental insurance. A Medicare
Supplement (Medigap) is offered by a private insurance company to
work in conjunction with original Medicare to supplement or fill in
the gaps that Medicare does not pay.

When you join an Advantage Plan you are not buying supplemental insurance.
You are joining a Medicare Plan where your Medicare will be
administered by a private insurance company and you are still
enrolled in Medicare.