Which Medicare Health Plan is Best?

Medicare Supplements vs. Medicare Advantage vs. Medicare Prescription Plans

• Medicare Supplements - These are also called medicare gap policies because they pay for the things that orignal Medicare does not. There are various levels of medicare supplement plans, ranging from plan A to L! They vary from covering basic copays and deductibles to even covering foreign travel emergencies and excess charges over Medicare guidelines. Premiums will vary by the plan level, zip code, and other factors.
• Medicare Advantage Plans - These are different from Medicare supplements, because you will get all of your health care coverage through your plan. You can find HMO, PPO, and Fee For Service (Any Doc) Medicare Advantage plans. Some Medicare Advantage plans also contain Medicare Part D (Prescription) coverage. Some require an additional premium, and some do not. Some Medicare Advantage plans may even rebate part of your Part B premium. You may have some copays and deductibles with a Medicare Advantage plan, but you will have a guaranteed maximum yearly limit on this.
• Medicare Prescription Plans - These plans may have a monthly premium, and they are designed to cover a large portion of your prescription plans. You can purchase stand alone Part D (RX) plans, and you can find them included in many (but not all) Medicare Advantage health plans.