Some solid reasons why active retirees may want to choose a Medicare Supplement plan over Medicare Advantage.
Medicare Advantage is a popular choice for many retiring Americans. But the low premiums frequently mask details that are often costly. Here are some facts that may change your mind.
- For full coverage, Medicare Advantage plans require you to use providers in their network, so if you have a favorite doctor, specialist, or hospital you like to use, and you need care that’s not in their network, it won’t be fully covered—or sometimes not covered at all! And networks can and do change year-to-year. Not so with a Medicare Supplement plan.
- Medicare Advantage plans can change every year—different drug coverage, different network providers, different out of pocket limits, and other critical criteria. So, you have to do a detailed review EVERY YEAR or risk missing something that could have a dramatic effect on your healthcare coverage. Medicare Supplement plans remain largely the same year-over-year and are guaranteed to renew without health questions.
- You’ll need referrals for out-of-network providers with Medicare Advantage, which can be tedious and time consuming. And referrals are often not fully covered, so the care you need can become costly. You’ll also need pre-authorizations for specialized care.
- Medicare Advantage plans allow private insurance companies to manage your care instead of you and your doctor. This means you may not be able to choose your provider and type of care…and coverage can be denied if the plan’s rules are not followed. This lack of control over one’s own healthcare is uncomfortable for many people.
- On the other hand, Medicare Supplement plans—sometimes called Medigap—cover your choice of all providers that accept Medicare, which includes over 97% of all providers. There are no network restrictions because there is NO NETWORK! Your plan won’t be canceled as long as you pay the premiums…only you can cancel the policy.
- And finally—Medicare Supplement plans are hassle free! Anything Medicare covers must be paid by the Supplement plan, many times with zero out of pocket costs. For example, if you have a Medicare Supplement Plan G, you pay only your monthly premiums and a once-a-year Part B deductible. That’s $233 in 2022; nothing more. Your Medigap plan pays the rest. So, you can better plan for your annual costs – even if you suffer a significant health event or develop a chronic illness, your out-of-pocket costs don’t go up. The costs are covered.
The bottom line is that Medicare Supplement/Medigap plans offer benefits that may work better for you if you don’t want to gamble that good health will last forever.
- Predictable costs
- Fewer hassles
- No negotiation with insurance companies
- Choose your providers
- No network
- Guaranteed renewable
Contact ActivAge Medicare Advisors to schedule a FREE consultation. We’re Medicare specialists and licensed insurance agents who can guide you to the Medicare Supplement plan that fits your unique situation. Contact Freedom@activagemedicare.com. Or call 941-567-6000