How to Choose a Medicare Plan Type

If you find choosing a Medicare plan difficult and confusing, you’re not alone. There’s no need to feel overwhelmed, we’re here to help you!

As you may know, Original Medicare does not cover all your medical expenses. In fact, leaves you paying 20% of outpatient costs. That’s why you may want to have additional coverage to bridge that gap in your coverage. Your options to do so are to have Original Medicare with a Supplement plan (Medigap) or to get an MA Plan.

Although a Supplemental Insurance Plan and Medicare Advantage both help complete your coverage, they are not the same thing. When you’re deciding which kind of plan you need, there a few things to keep in mind:

  • Are your main physicians in any MA plans, or do they only accept Original Medicare?
  • What insurance do your preferred hospitals accept?
  • Will you travel out of the area frequently? You can use a Supplement Plan for any doctor or hospital in the nation that accepts Medicare.
  • How much risk are you willing to take? MA plans may require an out-of-pocket maximum.
  •  Would you have a lower premium and just pay for services as you go? If so, you might prefer a MA plan. However, if you don’t want to worry about unexpected expenses, a Supplement plan could be a better choice.

How to Choose a Medigap Plan

Medigap plans are standard across all insurance companies. This was done to make it easier to compare plans. You can find our Supplement Plans Comparison Chart for an overview of Plans A – N.

If you decide a Medigap plan would be better for you, our company can generate a list of plans in your area. As a large insurance broker, we can find prices for all the plans in every state.

Premiums for Supplement plans depend on factors like gender, age, zip code, tobacco usage and your eligibility for household discounts. Sometimes certain state rules can affect premiums as well.

How to Choose a Medicare Advantage Plan

If you prefer MA, we can use the www.medicare.gov website to find options. We can use their tools to search for Medicare Advantage plans in your county based on your preferences.

Some people prefer HMO plans for the lowest premiums.

Others prefer PPO plans because they are more flexible and have out of network benefits if needed. Some counties also have other plan types like Cost plans, Special Needs Plans and PFFS plans.

Our agents are familiar with all of these and can help you sift the results to find a plan that your doctors participate in. To learn more about the difference between HMOs, and PPOs, click here.