Medicare Supplement Vs. Medicare Advantage Which Is Better?

New Medicare recipients have a very important decision to make

, regardless of whether they are just turning 65 or are leaving an employer sponsored health plan. Purchasing a Medicare plan is very important and one should make a thoughtful and educated choice regarding the two very different options available. While Medicare Advantage plans have been very popular over the past few years, Medicare Supplement Plans are making a comeback, especially with the new Medicare Supplement Plans available as of June 1st, 2010.

When Medicare Advantage Plans were introduced they quickly became a very popular option because of their low prices and great benefits. However, over the past few years their prices have increased and most of them have cut their benefits. Plans that were free at one time can now cost over $100 per month. In addition, many doctors and hospitals are choosing not to accept these plans, which has created serious anxiety for seniors who chose to enroll in the Medicare Advantage program. A few of the major insurance carriers have stopped offering these plans altogether as a result of the changing marketplace.

The biggest problem with Medicare Advantage plans is they come in the form of HMO"s, PPO"s, and PFFS (Private Fee for Service) Plans, which means most of the time you must visit a doctor and hospital that participates in their network. Freedom of choice is important for most people as they age, and the medical providers who accept these types of plans are becoming few and far between. On the other hand, nearly every doctor and hospital that accepts original Medicare accepts Medicare Supplement Plans making them a much better choice for most people.

The difference in price between Medicare Supplement Plans and Medicare Advantage plans used to be quite large, but today many Medicare Advantage plans are more expensive than Medicare Supplement Plans. This is especially true with the addition of Medicare Supplement Plan N, which is a great option for seniors who are on a tight budget and was designed to compete directly with Medicare Advantage Plans.

Location can be a huge factor when determining whether Medicare Supplement Plans or Medicare Advantage Plans are a better option for you. People who live in large metropolitan areas such as Los Angeles often have access to cheaper plans that offer better benefits than people who live in rural areas across the nation. Folks in rural areas will find Medicare Supplemental Insurance is a more cost effective option, and they will have access to much better Medical care.

Medicare Advantage Plans are okay for people who live in a major city, or are in extremely good health and on a budget. However, Medicare Supplement Plans are a much better option for the majority of seniors. This is especially true with the changes made by the new Health Care reform bill that was recently signed into law by President Obama.

by: Mark Simpson

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