If you are looking for a way to reduce your out-of-pocket health care costs and if you receive Medicare because you are a senior citizen or because you are disabled, you might be thinking about purchasing either Medicare Advantage coverage or a Medicare supplement. Either option can be much better than relying on Medicare alone, but different seniors make different choices for various reasons. These are a few signs that a Medicare Advantage plan might be better for you than a supplemental plan.
1. You Want Extra Coverage
In general, Medicare and a Medicare supplement do not provide coverage for things like glasses, hearing aids or dental care. Some seniors do not mind paying for these things out of pocket, but if you need dental, hearing and vision care, you might find that you have better coverage with a Medicare Advantage plan. Additionally, even though Medicare generally does not pay for prescription medication, many Medicare Advantage plans do. If you take a lot of medication, you might spend a lot of money on your prescriptions each month; fortunately, an Advantage plan can help with this.
2. You Don't Travel a Lot
One thing that some people prefer about a supplemental plan is that they can generally use it with any doctor that accepts Medicare. However, with a Medicare Advantage plan, you will actually have separate insurance and will not be covered by original Medicare. Depending on your plan and provider, you might be restricted to a network. If you choose a plan that has a good network in your area, however, you might not find that this is a problem, particularly if you do not travel a lot.
3. You'd Like to Keep Monthly Premiums Low
Many Medicare Advantage plans offer low monthly premiums. However, you might find that you have to pay more out of pocket when you do need care than you would have to pay if you chose a supplemental plan. If you'd prefer to keep monthly costs low but are prepared to shell out the cash for your health care costs when needed, you might find that a Medicare Advantage plan will work better for your budgeting.
As you can see, there are various reasons why a senior might choose a Medicare Advantage plan over a supplemental plan. Consider these things, and consider taking the time to research your options so that you can choose the coverage that is right for you.
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