Medicare Supplement Plans Favored Over Medicare Advantage Plans

By Author: Tyra Phillips
Total Articles: 78
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The annual enrollment period begins on November 15th, and thousands of seniors have a very important decision to make. This period can be a very stressful time, and spans for 45 days. This is the only time during the year when seniors can enroll or disenroll in a Medicare Advantage Plan, or MAPD. Many Medicare recipients begin discussing their options in the beginning of September in an effort to ensure they are well informed and educated when the feeding frenzy begins in Mid-November. In light of the recent economy, and the social security income freeze, it has never been more important to purchase an affordable plan.

The huge benefit of MAPDs, or Medicare Advantage plans have is their extremely affordable monthly premium. Many experts believe the monthly premiums for these plans will increase substantially in some areas over the next few years as over $136 billion in government funding for this program has been cut. If the past few years have been any indication of the future, benefits will likely decrease as well. While these plans may be more affordable, they aren't always the most cost effective solution. ...
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It is possible to purchase a very affordable Medicare Supplement Plan as well, but you must be sure to compare Medicare Supplement quotes from all companies to get the very lowest price. The Center for Medicare Services has standardized Medicare Supplement Plans A through N, which means all companies must offer the same plans and benefits. They cannot change the plans, nor can they offer additional benefits. Keep in mind, some companies such as AARP and Humana do offer discounts for vision and wellness programs.

Medicare Supplement Plans today can be more affordable due to the addition of Medicare Supplement Plan N. This plan has an affordable monthly premium, which is approximately 30% cheaper than Medicare Supplement Plan F, which is the most comprehensive and most popular plan. Seniors who purchase Plan N will have to pay the annual Part B deductible, which is $155 in 2010, as well as $20 co-payments for doctor visits and $50 co-payments for Emergency Room visits. Plan N can be a great option if you have an expensive plan and are in good health, or if you are in great health and on a tight budget.

Many seniors favor Medicare Supplement Plans over Medicare Advantage plans because most advantage plans have a provider network, which means you must visit doctors, hospitals, and specialists who participate in their network. Furthermore, you may need to get a referral to see a specialist. This can be particularly frustrating if you are in need of specific care. People who purchase Medicare Supplement Plans, on the other hand, can visit any doctor, hospital, or specialist who accepts original Medicare. This is a huge advantage for seniors who want the freedom to visit the doctor or hospital with whom they feel the most comfortable.

Medicare Supplement Plans are standardized by Medicare, which means insurance companies cannot offer additional benefits, nor can they change the benefits within a plan. Seniors who purchase these Medicare plans should purchase a Prescription Drug Plan as well, especially if they take a significant amount of medications. Keep in mind these plans change every year, meaning you need to compare all plans a the end of every year to make sure you have the most affordable option for the following year.