If you are new to the world of Medicare, then you may already be getting bombarded with junk mail and telemarketing calls from companies that sell Medigap supplement insurance. Unfortunately, any marketer who is able to find out your age, and that's pretty simple these days, will be interested in selling you a Medicare supplement insurance policy, so it helps to know whether you really need one of these plans.

In the past, a Medicare supplement plan was the only option for people who wanted to get better coverage for preventive care, doctor's visits and prescriptions. However, since the Medicare Advantage Plan was introduced, fewer people need to explore the Medicare supplement insurance option. That's because Medicare Advantage builds in many of the most popular coverage options and co-pay amounts that people choose in a supplemental plan, plus Medicare Part D prescription coverage, and they make it much easier to manage. In fact, if you're accustomed to an employer's group plan like, a PPO or HMO, a Medicare Advantage plan will seem very similar.

The only problem with choosing a Medicare Advantage planis if you need a very specific or less common option from Medicare supplement insurance, in most cases you will not be able to add it to your Medicare Advantage plan.  Also, you may only want Medicare Part B and the Medicare Prescription Drug (Part D) insurance as a supplement. If this is the case, then a Medicare Advantage plan may not be suitable, or even affordable.

What is Medigap Supplement Insurance?

Just like basic Medicare, Medicare supplement insurance is available to anyone aged 65 and older, plus people with certain disabilities or end-stage renal failure. However, one must first be enrolled in Medicare Part A.

No matter which private insurance company you deal with, the actual benefits you will receive from Medicare supplement insurance are identical. This means if you buy Medicare Part F supplement insurance, you will get the same benefits from one company to the next. However, prices will vary depending on where you live and which company's plan you choose to buy.

Medicare supplement insurance can be used to pay for additional health-related expenses that are not covered by traditional Medicare Parts A and B. These include nursing home care, dental and vision care, eyeglasses, hearing aids and in-home health services.

 

The best way to make a smart decision when choosing between Medicare Advantage and Medicare supplement insurance is to work with an experienced health insurance broker. Michael Horvat is a health insurance expert and broker with HealthQuotes.com in Colorado Springs, CO. If you are searching for Colorado health insurance plans or quotes, please give Michael a call anytime at 800-345-0789.

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