Medicare Information and Discussions
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which is better
- Thread starter GLD
- Start date
Hi GLD,
Welcome!
There is no simple answer to your question.
A Medicare Advantage plan will be cheaper than a Medicare Supplement plan in most cases. Sometimes the Advantage plan will offer extra free services. However you must use the network of doctors and hospitals in the Advantage plan and often the network is limited to your geographical area.
So if you travel or do not want to be restricted to specific doctors and hospitals the supplement plan would be your best bet. If you don't mind seeing specific doctors and using their hospitals and you do not travel to other locations then the advantage plan will save you money.
Welcome!
There is no simple answer to your question.
A Medicare Advantage plan will be cheaper than a Medicare Supplement plan in most cases. Sometimes the Advantage plan will offer extra free services. However you must use the network of doctors and hospitals in the Advantage plan and often the network is limited to your geographical area.
So if you travel or do not want to be restricted to specific doctors and hospitals the supplement plan would be your best bet. If you don't mind seeing specific doctors and using their hospitals and you do not travel to other locations then the advantage plan will save you money.
SeniorAvocate
Member
Advantage plans are great... as long as you don't have or develop any major illnesses. When you take yourself out of Medicare and place yourself in a Part C/Advantage plan, like Mack said you limit yourself geographically, by law these plans are county by county, you can only use designated facilities, and only the Dr's that are part of that network. If you are outside of the county and go to an emergency room, you may have to pay the whole bill if it's not a defined life threatening emergency (life or death). For example if your out of county and you think your having a heart attact, go to the ER, then hours later they tell you it was integestion, you can expect a huge bill in the mail.
Advantage plans can also deny surgeries and procedures if you don't pay your deductibles ahead of time, or if you owe them money for prior services. If you have a nest egg and a Advantage plan, they can come after you to cover your share of charges. People who write about only having to pay $50 for a surgery most likely already impoverished, and if not in an advantage program could have qualified for Medicaid. Medicare advantage is usually a good choice for lower income seniors ($900 or less if single, $1400 or less if married). If you are in an Avantage plan, you are not allowed to have a suppliment.
Medigap Policies (suppliment plans), particularly plan F and G will give you 100% healthcare, you can pick any dr. without having to see your primary, go anywhere in the country and be covered, even take a vacation out of the country and be covered, never seeing a bill, all for about $200 a month, depending on company, zip code and availability.
According to the centers of Medicare and Medicaid services when picking a Medigap company you want to look at Issue Age rated (your rate will always be for the age you signed up), portability (can you take it with you- change zip codes without rate changes), guaranteed renuability (can they cancel you, only a group policy can cancel you and the entire group). You also want to pick a company that will not re-rate you when you move, and who is not under investigation for raising their rates after the open enrollment period ends. A few companies use agents for service, others you call into a 800 number.
Talking to a licensed agent is very important to me, he has to be honest, in order to protect his/her license.
Be aware of those low cost (teaser rates), and the length of time the company has been selling medigap policies. The devil is in the details.
Advantage plans can also deny surgeries and procedures if you don't pay your deductibles ahead of time, or if you owe them money for prior services. If you have a nest egg and a Advantage plan, they can come after you to cover your share of charges. People who write about only having to pay $50 for a surgery most likely already impoverished, and if not in an advantage program could have qualified for Medicaid. Medicare advantage is usually a good choice for lower income seniors ($900 or less if single, $1400 or less if married). If you are in an Avantage plan, you are not allowed to have a suppliment.
Medigap Policies (suppliment plans), particularly plan F and G will give you 100% healthcare, you can pick any dr. without having to see your primary, go anywhere in the country and be covered, even take a vacation out of the country and be covered, never seeing a bill, all for about $200 a month, depending on company, zip code and availability.
According to the centers of Medicare and Medicaid services when picking a Medigap company you want to look at Issue Age rated (your rate will always be for the age you signed up), portability (can you take it with you- change zip codes without rate changes), guaranteed renuability (can they cancel you, only a group policy can cancel you and the entire group). You also want to pick a company that will not re-rate you when you move, and who is not under investigation for raising their rates after the open enrollment period ends. A few companies use agents for service, others you call into a 800 number.
Talking to a licensed agent is very important to me, he has to be honest, in order to protect his/her license.
Be aware of those low cost (teaser rates), and the length of time the company has been selling medigap policies. The devil is in the details.
SeniorAvocate
Member
GLD said:
I would first find out what companies service your specific area, and stick to companies with a long history of servicing your community. Secondly I would call each one and ask to speak with an agent, not a broker, and ask if they are issue age. BCBS is issue age and Colonial Penn is issue age, just Mutual of Omaha is Attained age Rated and United Healthcare (AARP) is community rated, although if you ever move you will be re rated not only to the health of the community your moving to, but also the new age. USAA is issue age rated, but you have to be a member to seek their benefits, and they push you to bundle services. Colonial Penn you can take anywhere in the country and not be re-rated, BCBS you can take anywhere in your state and not be re-rated.
Once again, see what's available in your area, and speak with an actual Agent who has to be honest to protect his or her license.
P.S- Not all companies offer the G plan either, so just ask the Agent.
SeniorAvocate said:I would first find out what companies service your specific area, and stick to companies with a long history of servicing your community. Secondly I would call each one and ask to speak with an agent, not a broker, and ask if they are issue age. BCBS is issue age and Colonial Penn is issue age, just Mutual of Omaha is Attained age Rated and United Healthcare (AARP) is community rated, although if you ever move you will be re rated not only to the health of the community your moving to, but also the new age. USAA is issue age rated, but you have to be a member to seek their benefits, and they push you to bundle services. Colonial Penn you can take anywhere in the country and not be re-rated, BCBS you can take anywhere in your state and not be re-rated.
Once again, see what's available in your area, and speak with an actual Agent who has to be honest to protect his or her license.
P.S- Not all companies offer the G plan either, so just ask the Agent.
AARP is issue age rated according to Medicare.gov:
http://www.medicare.gov/find-a-plan/results/medigapresults/medigap-companies-offering-policy.aspx
I am not an agent or broker and have no interest one way or another in which you choose, just wanted to clarify that point.
I also found it much easier to get pricing information from the AARP website, and found that many others do not even put their pricing online for their plans! Why is that? All the plans are the same among the companies because they are mandated by Medicare, why not put the pricing out there for everyone to see?
Also with AARP you can sign up online, with many others you have to contact an agent.
SeniorAvocate
Member
AARP is not an insurance company, they underwrite through United Healthcare. These companies can't post their rates online because they differ from zip code to zip code.
SeniorAvocate said:
Understood that AARP isn't an insurance company. It is advertised on the AARP site as an AARP Medicare Supplement Insurance Plan insured by UnitedHealthcare Insurance Company, I just refer to it as AARP (for short) and I think most people know what I was referring to.
In any event you can get a quote at the AARP Medicare Plans site at:
https://www.aarpmedicareplans.com/
All you have to do is enter your zip code. What I was saying is that if they can do it, why can't the others do it? Why not make it easy to see how much the plans are? I like dealing with a company that is up front on what they charge and do not make me call an agent to get a quote.