Medicare Advantage vs Medicare Supplement 2020
Medicare Advantage Plans and Supplement plans are only available to seniors. And they are only accessible by seniors who can qualify for Medicare. These plans have a lot of benefits to offer to elders. Because they work differently, we want to compare Medicare Advantage vs Medicare Supplement for 2020. In this way, we can give you information on how they measure up. This comparison will be useful to you if you are still wondering whether to go for MA plan or a Supplement policy.
One of the factors to consider when comparing these two plans is to know their rates.
Prices of Advantage and Supplement Policies
Medicare Advantage plans can have a price range of $0 to more than $300. The average rate is $140. The lower the monthly premium is, the higher the deductible you will pay for. However, if you get an average priced plan, you will also receive reasonable deductible. You must pay the deductible first before your coverage can start.
Under Supplement plans, the pricing can start at $60. But it can go more than $450. The plans can cover the deductibles of Original Medicare. Thus, they can even out the high average price.
When finding details between Medicare Advantage vs Medicare Supplement for 2020, you must compare their prices. Since the pricing of these plans will vary depending on the area, you should consider using our tool. We can give you the rates of the plans based on your location. From there, you can distinguish how much the insurers are charging their clients for a particular plan. Thus, you can easily tell which provider is overcharging for the same policies.
As you take a look at the prices of these two plans, you will realize that Medicare Advantage plans have different coverage from one plan to another. Supplement plans, on the other hand, will have the same coverage if they share the same name.
Each plan will take care of your medical expenses but it does so differently. We are here to set all those plans so you can find out which one can give you the right coverage.
Let us start with Medicare Supplements. These are the coverage items that the supplement plans will cover. But not all of them are included in every plan.
Medicare Parts A and B deductibles and copayments
Medicare Part A coinsurance
Nursing services coinsurance
Three pints of blood every year
Extra charges for Part B services. These are services that Medicare plans are not accepted fully.
Medicare travel cost to foreign countries
Supplement plans distribute their coverage differently. The eight Supplement plans will have a pre-set coverage, designed by Medicare. Thus, no matter where you purchase your Supplement plan, you will get the same coverage.
Now, let us tackle the coverage for Medicare Advantage. Here are the items that it includes:
Medicare Part A and B
Emergency medical services that would include ER care and ambulatory care
Urgently needed medical services. They may carry surgeries, medicines, medical tests and more.
Optional coverage items will include the following:
Hearing, vision and general wellness checkups
Prescription hearing aids and eyeglasses
Medicare Part D
These optional items may be part of some Medicare Advantage plans. But each plan will have the basic coverage.
Applying for these Plans
Advantage and Supplement plans have a different enrollment process and you must be aware of it to ensure that you can sign up for it at the right time. But before you can apply, you need to meet their eligibility requirements. Then, you must ensure that you have no healthcare coverage that cause conflict with these plans. And you must apply for these plans during the enrollment periods to guarantee that your application is accepted.
The eligibility requirements for Advantage plans will be at least 65 years old. You must be living in the network area of the provider. Plus, you must have an active Original Medicare.
For the Supplement plans, you should have an active Original Medicare as well. And you need to be at least 65 years old.
Now, these plans will not be compatible with other healthcare coverage considering the extensive protection they offer. But the Original Medicare will not overlap with these plans. Original Medicare is a requirement to obtain one of these plans.
You cannot have both Supplement and Advantage plans at the same time. The reason for this is that they can have duplicate coverage. You must also get rid of your employer healthcare plan as it might have the same coverage as the Supplement or Advantage plan.
For the enrollment period, the Medicare Advantage enrollment starts on October 15 and ends on December 7. It happens the same time every year. But Medicare may change it in the future. Thus, to be aware of any change, please come back and check out our information regarding the enrollment period.
The enrollment period for supplement plans will start three months before your 65th birthday and three months after turning 65. It is your best opportunity to obtain a supplemental coverage at a better rate. However, you can register at a later date. But it is not a guarantee that you will be accepted or that you will get a reasonable rate.
MA plans and Supplement plans are both robust coverage. They offer great value to seniors. However, some seniors would be better off with MA plan while others can benefit more when they have Supplemental coverage.
Thus, the best way to tell which of these plans is better for you, compare Medicare Advantage vs Medicare Supplement 2020. By comparison shopping, you can see how these plans will work on your healthcare needs. Contact us for further information about these plans and how you can sign up for one of them.
Compare Medicare Advantage for 2020