A supplement is a private policy that is funded by the premiums. This plan works along with Medicare and pays for various deductibles and co-insurance (depending on the level of coverage).
A Medicare Advantage Plan (Part C) is a private policy that is funded by Medicare. While you keep your Medicare, the
MA (Medicare Advantage) plan is your primary insurance.
Some basic advantages / disadvantages:
Advantage of Supplements:
Medicare is your Primary (no networks to worry about)
Depending on Coverage - no out of pocket costs
Disadvantage:
Can be expensive
Is underwritten
Advantages of
MA plans:
Lower premiums
Can provide additional coverage above Medicare
Disadvantages:
Can be bound to a network
May have numerous co-pays, poss high out of pocket costs
Hope this helps
Medicare Supplements & Advantage Plans
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