- For some people, Original Medicare Part A and Part B alone are the best alternatives.
- For some people, a Medicare Supplement along with Original Medicare works well.
- For other people, a Medicare Advantage plan will provide the best coverage.
Many people find a Medicare Advantage plan is simply the most economic and convenient way to get healthcare coverage. The monthly premiums for many Medicare Advantage plans (with Medicare Part D prescription coverage) may be lower than a separate Medicare Part D plan or, in some cases, even $0, some Medicare Advantage plans refund or "Giveback" a portion of your Medicare Part B premium. Medicare Advantage plans often have an established network of healthcare providers (doctors and hospitals) and some people do not mind using a health plan’s network - or you may find your doctors and hospitals already participate in the plan’s healthcare network.
Other people are seeking an alternative to a Medicare Supplement and although a Medicare Advantage plan does not provide the same coverage as a Medicare Supplement, these people may be willing to sacrifice the flexibility of choosing their own healthcare providers for lower monthly premium payments. Finally, Medicare Advantage plans also often provide additional benefits that may include health club memberships, vision care, or dental care.
On the negative side...
Some Medicare Advantage plans have a restrictive network that requires you to use the available network doctors and you may only be able to seek medical assistance outside the network after receiving your Medicare Advantage plan’s authorization – and possibly pay a higher co-payment. Medicare Advantage plans provide coverage that is somewhat complicated with different co-payments for in-network and out-of-network healthcare. Like your Original Medicare, you need to review cost-sharing (such as $10 to $30 co-pays per primary-care doctor visit), co-insurance, deductibles, and out-of-pocket maximum cost limits (or MOOP).
Bottom Line: Know the details about your Medicare Advantage plan before enrolling – especially if you have an established set of doctors and other healthcare providers that may be outside of the Medicare Advantage plan’s network. You can review features and benefits for any Medicare Advantage plan using our Medicare Advantage Plan Finder or MA-Finder (enter your ZIP to begin).