Original Medicare is Medicare Parts A and B, and they work fine for most people. But what about people who need treatments for eye problems or dental issues? Or, what about those who may struggle with affording deductibles or copayments? Medicare Parts A and B offer no coverage for that.
You have the option of choosing a policy that lets you have all the Medicare Parts in one place with Medicare Advantage, or, you can have a Medicare Supplement that can leave you with zero out-of-pocket costs.
Choosing Medicare Advantage or Medicare Supplements
You can have one, but not the other. Your insurer cannot legally try to sell you Medicare Advantage when you’re already on a Medicare Supplement plan.
Medicare Advantage is an insurance policy you can opt into at any point, provided you’re doing so when you have Medicare Parts A and B and are enrolling during one of the enrollment periods. In fact, 46 percent of Medicare beneficiaries in Alabama chose to enroll in a Medicare Advantage plan, and nearly half of Medicare beneficiaries in Florida also enrolled in Medicare Advantage.
Medicare Supplements are not your typical insurance policy. Medicare Supplements only come into play after Medicare pays its share. In Florida, those under 65 who are enrolled in Medicare can enroll in a Medicare Supplement plan, but premiums may be higher. However, in Alabama, Medicare Supplements are very limited for those under 65.
Where you can use them
Medicare Advantage’s critics point toward its limited network as one reason to avoid it. This is in contrast to Original Medicare, which you can use at any treatment facility in the U.S. that accepts it. Some Medicare Advantage plans offer greater savings for seeing specific healthcare providers within the network.
If you’re a frequent traveler or are more comfortable with something that can offer you extra savings in any part of the country, then a Medicare Supplement plan will be the better choice. That is if the healthcare facility you get treatment in accepts Medicare, to begin with. Your Medicare Supplement plan cannot cover you if the healthcare provider doesn’t accept Medicare.
Prescription drug coverage (Part D)
Medicare Advantage differs from Medicare Supplements in that in some cases, Medicare Advantage can have prescription drug coverage already built-in, depending on the policy you have. Part D enrollment is only required on a case-by-case basis (if you want to get a Medicare prescription drug plan). In fact, about 44 percent of Alabama’s Medicare beneficiaries have a Medicare Advantage plan with Part D coverage.
Medicare Supplements do not have prescription drug coverage, therefore you must enroll in Medicare Part D separately.
Employer coverage
If you have employer health insurance coverage, Medicare Advantage and Medicare Supplements are incompatible with it for different reasons.
Enrolling in Medicare Advantage can make you lose your employer health insurance with no way of getting it back. As for Medicare Supplements, you can’t get them unless Medicare is your primary insurer.
Contact us for more information
At Sunsurance Agency, we take pride in our ability to find you a Medicare policy. If you live in Dothan or Enterprise in Alabama or Pensacola, Pace, or Tallahassee in Florida, we can help you determine if a Medicare Advantage or Medicare Supplement plan will fit your needs. Call us today at 334-441-3905 to get your coverage started.