When it comes to Medicare, there are two options you can decide between, a Medicare Advantage Plan (also known as Part C) or Medicare Supplement. A decision between these two options could impact how your healthcare is paid for many years. There are many advantages and disadvantages with each option, which are listed below.

With a Medicare Advantage Plan, this coverage essentially replaces your Medicare with coverage provided by a private insurance company, rather than the government. You are still obligated to pay for Part B premiums, which are typically deducted from your social security checks.

Advantages of a Medicare Advantage Plan include:

• • Low and affordable premiums, certain plans have no premiums associated with them.
  • No need to purchase a separate Part D plan because prescription coverage can be included.
  • October 15^th – December 7^th is the Annual Enrollment Period, which allows participants to move to a different plan each year for the following calendar year.
  • Additional benefits such as dental, vision or hearing coverage may be offered through Advantage plans that are not offered through traditional Medicare.

Disadvantages of a Medicare Advantage Plan include:

• • Most Advantage plans require you to use certain doctors and hospitals, it may also require referrals to see a specialist.
  • These plans have co-pays and deductibles when you use the coverage, and some plans have high max-out-of-pocket costs associated with them.
  • There is a possibility of inability to switch to a Medicare Supplement Plan if you were to change your mind later.
  • You may have to change doctors if that doctor were to fall out of network.

When choosing a Medicare Supplement Plan, your coverage works directly with Medicare to provide you with your health insurance.

Advantages of a Medicare Supplement Plan include:

• • Medicare Supplement Plans allow you to choose any doctor that accepts Original Medicare. There is no requirement to stay in a particular network, or to obtain a referral to see a specialist.
  • Most plans have no deductibles or co-pays.
  • In the state of Missouri, you are allowed to change your plan on the anniversary date of your policy each year.
  • You always have the option to switch to a Medicare Advantage Plan during the Annual Enrollment Period.

Disadvantages of a Medicare Supplement Plan include:

• • Medicare Supplement Plan premiums are much higher in comparison to a Medicare Advantage plan.
  • These plans do not include prescription drug coverage; therefore, a Part D plan would need to be purchased separately.
  • Though some of these plans provide discounts, they do not provide coverage for dental, vision and hearing.