Seniors, which Medicare supplement is the best?

There are two ways to get extra coverage for Medicare. You can get a Medicare Supplement or you can get a Medicare Advantage plan. These are two different types although many people get them confused.

There are two ways to get Part D prescription coverage. You can get a stand-alone Part D plan or you can get coverage through some (but not all) Medicare Advantage plans. You cannot get prescription coverage through any Medicare Supplements sold today.

Medicare Supplements come in different flavors ▬ Plans A, B, C, D, F, hi Ded. F, G, K, L, M and N. Plan F is the most comprehensive and will pay the provider whatever Medicare doesn't pay (as long as the procedure is Medicare approved) leaving you with no additional charges. These plans are exactly the same from company to company as far as coverage, the only difference between a Plan F with one company and Plan F with another company is cost, customer service, and how the plan is set up (rated) for premium increases. They can be community rates, issue age rated, or attained age rated. There are pros and cons with all systems. In general, you can see any doctor that accepts Medicare.

Medicare Advantage plans also come in different flavors ▬ HMO, HMO/POS, PPO, PFFS, MSA, SNP, Dual, Cost and PACE plans. These plans are county and in some cases even zip code dependent, so you must live in the area they are offered before you can buy one. Not all plans are available in all area.

Most have drug coverage. Of those that don't some types will allow you get a separate stand-alone Part D plan while others will not, and if you apply for a Part D plan after applying for a Medicare Advantage plan that doesn't allow you to have a Part D plan you will be automatically kicked off of the Advantage plan. These plans generally have co-pays but will have a lower monthly premium (some have a $0 premium in some counties). They will all have doctor restrictions, what those restrictions are depends on the plan so you need to make sure your doctor will accept the.

The Part D plan you want (either stand-alone or with a Medicare Advantage plan) will be the plan that has the lowest out of pocket cost for each year. I do an analysis for my clients each year because plans change every year and their needs may change during the year. The different plans will cover different medications at differing cost to you so you need to check each plan in your area and you'll need to do this every year unless you want to waste money.

There is no one best Medicare Supplement, Medicare Advantage plan, or Medicare Part D prescription drug plan. In fact, I'll have married couples on different plans because their needs and wants are different and I may change their plans each year as their needs change and as the plans change.

You can't buy by name brand; that's like buying a pair of Levi's just because they are Levi's and if they're 4 sizes too small they'll do you little good. You'll want to speak with an agent that works with all of the major companies in your area. The agent can find the best plan for your situation and budget, and a good agent will check each year to make sure you remain with the best plan as situations change.

Medigap supplements vary by location or region. You can use the Medicare plan finder link here to locate the one which serves your area or call any major insurance carrier or independent insurance agent. They have different plans ranging in price from about $50 to $200 a month. You should receive the Medicare and You book within 3 months of your birthday. It will list all the Advantage plans and Part D plans for your location. I have Kaiser Senior Advantage which costs $100 a month in addition to Part B.

Sorry to have to say this, In Britain we have a National Health Service which we paid for whilst we were working, the subscriptions were stopped from our wages or salaries as Seniors we get hospital,doctors,prescriptions, aids such as sticks, wheelchairs etc and if we have to go into care homes and cannot afford to we get that free as well even immigrants from day one.

Each state is different and each state has their own Insurance commissioner . He sets the rates and who will sell in your state so unless we live in the same state I cant help even a little with this Q. Sorry

Part A is free so once you get onto Medicare you will have to pay for Part B. Now Part D is for prescriptions and they take out more for that.

I do not use Part D yet since I buy most of my meds generic which is cheaper and works the same as name brands.

There are other types of insurance out there but you will pay more for them. If you are on low income you can apply for Medicaid also. Check out the link below for more info.

Blue cross