Med Supps Vs. Medicare Advantage

[bgill9999]

What are the main differences between med supps and medicare advantage?

 

[sshafran]

What are the main differences between med supps and medicare advantage?

Med advantage is primary w/ no secondary (+ network and usually Rx).

Med Supps are secondary to original Medicare (no network other than provider must take Primary which is Medicare).

 

[GreenSky]

What are the main differences between med supps and medicare advantage?

Are you a licensed insurance agent?

Rick

 

[keith48]

This video address the differences - https://youtu.be/9yxPmN-6i7M

 

[Matthew King]

Start by reading the most recent version of the Medicare and you handbook. That will give you a ton of insight on Medicare in general and those differences.

 

[Newby]

What are the main differences between med supps and medicare advantage?

Here is the very basic kindergarten level info you need to know.

1. They are completely different from each other
2. One (Med Sups) supplement Medicare. It pays the co-pays and deductibles that Medicare doesn't cover. It doesn't alter Medicare so people can go to any doctor or hospital that takes Medicare which is most of them.
3. The other (Medicare Advantage) REPLACES Medicare. If they go on it their Origional Medicare A&B are not effective during that time. They are on a privatized plan that replaces Medicare. They will have networks to stay within and co-pays and deductibles. They also have much more limited choice of their RX drug plan (unless they are on a PFFS networked plan).
4. Both are good. But some people like one, others like the other. You need to understand them well and explain them thoroughly and let your customer choose.
5. As an agent you will have service work from customers unhappy with the coverage on Med Advantage. But they all love their payment.
6. You will have service work on Med Sups from customers unhappy from rate increases. But they all love their coverage.

Now you know.

 

[jaygreen002]

Fundamentally, a Medicare Supplement or commonly know as Original Medicare is managed by the federal government and are made up of Parts A and B. It basically covers certain medical supplies in hospitals, medical services and other health care situation. On the other hand, a Medicare Advantage is an all-in-one plan. It's coverage is a combination of medicare Part A and B, and in most cases, includes a prescription drug coverage.

 

[sshafran]

Fundamentally, a Medicare Supplement or commonly know as Original Medicare is managed by the federal government and are made up of Parts A and B. It basically covers certain medical supplies in hospitals, medical services and other health care situation. On the other hand, a Medicare Advantage is an all-in-one plan. It's coverage is a combination of medicare Part A and B, and in most cases, includes a prescription drug coverage.

I hope you are not an agent... you are clueless.

 

[Matthew King]

Fundamentally, a Medicare Supplement or commonly know as Original Medicare is managed by the federal government and are made up of Parts A and B. It basically covers certain medical supplies in hospitals, medical services and other health care situation. On the other hand, a Medicare Advantage is an all-in-one plan. It's coverage is a combination of medicare Part A and B, and in most cases, includes a prescription drug coverage.

You're missing the "Supplement" part in Medicare Supplements for this definition.

 

[Newby]

I hope you are not an agent... you are clueless.

I wasn’t going to be the one to say anything. But...yep!