Difference Between MA and Med Sup

[wislndixie]

Could someone explain in plain language the major differences between a MA and a MedSupp? My wife is turning 65 in February. I've already received some info on a couple of MA. I know there is no monthly premium to pay, but if she goes into the hospital, they all have a daily copay for days 1-6 and then 100% thereafter. The medsupps I looked at have the monthly premium and depending on what plan you select, the med supp covers the inpatient deductible and you dont have to worry about a daily co-pay. I'm in Alabama if that helps. She has heart failure, chronic kidney failure (stage 3) but not on dialysis and is a diabetic. Takes alot of medicine, although most of it is generic now and all of her doctors are only seeing her every 6 months, so we don't have to go to the Dr. every month.
Thanks for any info..
Mike

 

[jhuang]

Med Supps do not offer prescription. You will have to buy a PDP plan if you go that route.

I have limited know of MA but know that drugs are not part of med Supps.

 

[arnguy]

Check out Medicare.gov for information.

 

[pbbaseball]

if she has chronic kidney failure, there's no way i would even consider an MA.... Just with hitting the out of pocket maximum 1 year, you are looking at 3-4 yrs of med supp premium to equal it out... the fact that she'll be most likely uninsurable after open enrollment means barring a service area reduction, you're stuck with that MA.

I also wouldn't go for the lowball med supp.... don't know if alabama has any particular rules where you can change med supps year to year, but in NC, i would tell you to go with AARP since they have 3-5% rate increases over the last 13 yrs that I've sold them. And they are community rated here vs attained age...

talk with a local broker, and not just some yahoo that's been doing it 2 yrs, or a guy that's been doing it for 10yrs with just one or two companies... i'd interview a few to test them on their knowledge...

 

[arnguy]

If she develops ESRD (End Stage Renal Disease) she would be ineligible for enrolling in a MA plan. She has an open enrollment period of 3 months prior to her 65 th birth month, the birth month, and 3 months after the birth month during which she can enroll in a med supp despite pre-existing conditions. As pbbaseball stated you should contact an agent in your area.

 

[YouGotMyMoney]

MA's are free

 

[senior-advisor-indiana]

If she develops ESRD (End Stage Renal Disease) she would be ineligible for enrolling in a MA plan. She has an open enrollment period of 3 months prior to her 65 th birth month, the birth month, and 3 months after the birth month during which she can enroll in a med supp despite pre-existing conditions. As pbbaseball stated you should contact an agent in your area.

You have your enrollment periods mixed up Arny. You just described the MA/pdp enrollment period. Med Supp open enrollment starts the month you she turns 65 or get part B and lasts for 6 months. You can however enroll up to 6 months prior to getting part B.

 

[Newby]

Could someone explain in plain language the major differences between a MA and a MedSupp? My wife is turning 65 in February. I've already received some info on a couple of MA. I know there is no monthly premium to pay, but if she goes into the hospital, they all have a daily copay for days 1-6 and then 100% thereafter. The medsupps I looked at have the monthly premium and depending on what plan you select, the med supp covers the inpatient deductible and you dont have to worry about a daily co-pay. I'm in Alabama if that helps. She has heart failure, chronic kidney failure (stage 3) but not on dialysis and is a diabetic. Takes alot of medicine, although most of it is generic now and all of her doctors are only seeing her every 6 months, so we don't have to go to the Dr. every month.
Thanks for any info..
Mike

Here is the plain English short version.

Med Advantage AKA Medicare Part C is PRIVATIZED Medicare. When you choose these plans, the insurer you choose is your insurer for ALL your Medicare. It's more similar to an employer health coverage plan that most people are used to.

Make sure you know your co-pays, deductibles, max out of pocket amount and the doctors that are in network for you.

If you go with a supplement you are an Original Medicare (AKA Medicare A & B). If you choose this plan the government IS your insurer for most of your coverage. Your insurance plan (Supplement AKA: Medigap plan) just pays the co-pays and deductibles. You have a MUCH more open network. I would start by looking at Plan F supplement (not the hi-deductible version of plan F) and work back from that if you need to lower your premium.

Read Medicare and You for more detail and DEFINITELY work with a good LOCAL agent. The agent is free and WELL worth it if you get a good one.

 

[Chazm]

Here is the plain English short version.

Med Advantage AKA Medicare Part C is PRIVATIZED Medicare. When you choose these plans, the insurer you choose is your insurer for ALL your Medicare. It's more similar to an employer health coverage plan that most people are used to.

Make sure you know your co-pays, deductibles, max out of pocket amount and the doctors that are in network for you.

If you go with a supplement you are an Original Medicare (AKA Medicare A & B). If you choose this plan the government IS your insurer for most of your coverage. Your insurance plan (Supplement AKA: Medigap plan) just pays the co-pays and deductibles. You have a MUCH more open network. I would start by looking at Plan F supplement (not the hi-deductible version of plan F) and work back from that if you need to lower your premium.

Read Medicare and You for more detail and DEFINITELY work with a good LOCAL agent. The agent is free and WELL worth it if you get a good one.

Hey! Finally, good info from someone. I was ready to chime in until you pretty much answered his question correctly.

 

[senior-advisor-indiana]

Scott, you just committed a CMMS code blue violation. I would lock your doors and hide under your bed.