Differences in Plan Types

Medicare Supplement & Medicare Advantage

Differences between Medicare Supplement and Medicare Advantage - 12m 39s

Understanding the differences…

Both Medicare Supplement and Medicare Advantage can be attractive coverage options when you are enrolled in Medicare.

What is most attractive to you will depend on your individual preferences.

Why some clients like Medicare Advantage - 2m17s

Why some clients like Medicare Supplement - 1m14s

Secondary Options in Medicare
Differences - Medicare Advantage and Medicare Supplement
Pros & Cons - Medicare Advantage and Medicare Supplement

For more information, please read this article published by Forbes Magazine in 2022 titled: Why Are Medicare Advantage Plans So Heavily Advertised?

You must enroll in both Medicare A and B

To be eligible for either Medicare Supplement (MediGap) or Medicare Advantage (Part C), you must be enrolled in both Medicare A and B. Medicare Supplements work with Medicare A and B to provide you coverage. Medicare Advantage replaces Medicare A and B for coverage (but you still are require to pay for Part B).

More from Medicare & You Guide

Underwriting Considerations

Medicare Supplement Insurance has an Open Enrollment Period for the first 6 months in which you are enrolled in Medicare Part B. During this time, you will be able to purchase ANY Medicare Supplement Plan with no medical underwriting. After this 6 month period ends, you will be medically underwritten if you want to purchase a Medicare Supplement or change Medicare Supplement Plans or insurance companies.

Some States have exceptions to these rules.
Also, if you are already on Medicare Part B (for more than 6 months), but lose your group coverage, you will have SOME plans available on a Guaranteed Issue basis. There will be less options available which do not require you to answer medical questions to qualify.

Medicare Advantage Plans and Medicare Prescription Drug Plans provide an Initial Election Period when you enroll in Medicare, a Special Election Period when you come off your group coverage plan (Employer Coverage, Cobra, Retiree, Severance), and also allow you to change plans once a year during the Annual Election Period (October 15^th through December 7^th) without medical underwriting.