If you’ve heard that a Medicare Advantage Plan may cost no more than Original Medicare for the Part B premium, that’s true. The premiums can be as little of $0 even though one of these plans may offer additional benefits beyond those of Original Medicare.
Medicare Advantage Plans come from private insurance companies, which may include coverage for eyeglasses or hearing aids that you don’t get with Medicare alone. So, if Medicare Advantage Plans are such a good deal, why doesn’t everyone take advantage of them?
While Original Medicare is available in every state, Medicare Advantage Plans are only available in certain areas. Unlike Medicare Supplement Insurance Plans that are available statewide, Medicare Advantage Plans are only available throughout smaller regions.
Another big difference between Medicare Supplement Insurance and Medicare Advantage Plans is that Medicare Supplement Insurance Plans have standardized benefits and Advantage Plan benefits vary by insurer. If you want to learn more about either alternative, you can read all about them with our online educational resources.
Jim McFadden has over 11 years of executive-level experience in the health insurance industry, is a youth baseball, softball and football coach, and has one of the worst fantasy football records in the world.