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- Thread starter tjvick
- Start date
tjvick said:
Hi and welcome!
I don't think you will find any medicare supplement plans that cost nothing! I think you are referring to the Medicare Advantage Plans. Medicare advantage plans are fine if you don't mind being limited to certain doctors and hospitals within their network and if you don't travel much out of your home network area.
I would suggest you examine your situation first:
1. Do you travel a lot out of your home area?
2. Do you want to stay with your current doctors (your doctor may not be on the network you choose)?
3. Is Medicare Advantage what you can afford, or would a Medicare Supplement plan be within your budget?
All of the above factor into making a decision as to whether a Medicare Advantage Plan or Medicare Supplement Plan would be right for you.
tjvick said:
Hello,
Yes, it's extremely confusing. Medicare supplements have a premium and vary based on what plan letter you choose. Choosing a plan F will cover pretty much everything that Medicare does not cover. Of course, plan F costs more than the other plan letters. The coverage is identical across companies making it easier to shop rates. You will also need to select a Medicare Part D drug plan.
Medicare Advantage typically has a low or no premium at all. It pays instead of Medicare and all services typically have a copay associated with them, and they typically include your Medicare part D drug coverage. You will need to see providers in the plan's network.
If you're internet savvy, it's easy to compare the different plans. You can visit Medicare.gov if you don't mind a cumbersome site, or you can try other Medicare compare plan sites to do your comparison shopping.
Good luck!
Matt
Some Medicare Advantage (MA) plans have a high Maximum Out Of Pocket (MOOP) to offset the low premium. With Medigap Plan G, your medical MOOP is limited to the Part B deductible of $166 in 2016. With Medigap you do also have to choose a Part D drug plan that may have additional out of pocket costs.
If you do choose MA, you have a one year grace period to come back to Original Medicare and choose a Medigap. This is known as a Special Enrollment Period (SEP). After that time expires, you can still come back to Original Medicare but would be subject to medical underwriting for the Medigap.
If you do choose MA, you have a one year grace period to come back to Original Medicare and choose a Medigap. This is known as a Special Enrollment Period (SEP). After that time expires, you can still come back to Original Medicare but would be subject to medical underwriting for the Medigap.