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A supplement plan is a private insurance policy paid by you. An advantage plan is a approved and paid by Medicare, through a provider contracted in your area.
There are other very important functional distinctions.
A supplement usually cover all or most of the 20% Medicare does not pay for. An advantage plan caps the 20% for which you are responsible (Maximum Out of Pocket)
A supplement may have a deductible. Most advantage plans do no have a deductible
A supplement usually has no co-pays (a set dollar amount) or co-insurance (a percentage amount) when you receive medical care. You may only need to sign a form in order for the provider to bill Medicare and the insurance company. An advantage plan usually has co-pays and co-insurance due at the time you receive services.
A supplement has no network restrictions; and require no referrals. so long as the provider is Medicare certified, you can go to any doctor or hospital of your choice. An advantage plan has networks of doctors and hospitals that must be contracted in order to receive payment. Some plans have an open architecture which makes them more flexible
Let us help you find a licensed agent in your area who can answer your questions and recommend a plan that suits your situation.
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