Difference between Medicare Advantage Plans and Medicare Supplement Plans
Medicare Advantage (MA) and Medicare Supplement (MS) plans are two different types of health insurance plans that can help you pay for your medical expenses. Here are some key differences between the two:
1. Coverage:
1. MA plans are offered by private insurance companies that contract with Medicare to provide Part A and Part B benefits.
2. MS plans, on the other hand, are designed to work with Original Medicare and help pay for some of the costs that Original Medicare doesn’t cover, such as deductibles, copayments, and coinsurance.
2. Cost:
1. MA plans usually have lower premiums than MS plans, but they may have higher out-of-pocket costs, such as copayments and deductibles.
2. MS plans, on the other hand, generally have higher premiums but lower out-of-pocket costs.
3. Choice of doctors and hospitals:
1. MA plans have a nationwide network of doctors and hospitals that you must use to receive care.
2. MS plans, on the other hand, allow you to see any doctor or specialist who accepts Medicare.
4. Prescription drug coverage:
1. MA plans offer prescription drug coverage.
2. MS plans do not have prescription drug coverage. If you have an MS plan, you will need to enroll in a separate Part D plan to get prescription drug coverage.
5. Extra benefits:
1. MA plans offer extra benefits that are not covered by Original Medicare, such as vision, hearing, and dental coverage.
2. MS plans do not offer these extra benefits.
When deciding between MA and MS plans, it’s important to consider your health care needs and budget. If you want more flexibility in choosing your doctors and hospitals and are willing to pay higher premiums, an MS plan may be a good choice. If you want lower premiums and don’t mind using a network of doctors and hospitals, an MA plan may be a better fit. It’s also important to compare plans in your area to find the one that best suits your needs. Give us a call at Kempel Agency MEDICARE SOLUTIONS, (815) 801-7010. We are here to Make Medicare Easy!
