What is the difference between Medicare Advantage and Medicare Supplement Plans?

Medicare Advantage Plans:

  • Can be a great option for those who would rather pay low or no monthly premiums in exchange for costs when they do see a doctor
  • Plans are standardized by the types of coverage and the categories of benefits offered, but plan offerings are based on your county of residence
  • Have network restrictions and often Primary Care Physicians coordinating care
  • Often have copays and coinsurance when using numerous benefits
  • May have low or no monthly premiums
  • Cannot deny you coverage
  • There are certain times during the year where you can change your plans including the Annual Enrollment Period from October 15 – December 7 and various SEPs (Special Election Periods) depending on if you are eligible for those SEPs


Medicare supplement insurance Plans:

  • Can be a great option for those who would rather pay higher monthly premiums in exchange for lower costs when they do see a doctor
  • Help cover the remaining portion of Medicare approved doctor & hospital expenses that Medicare does not pay
  • Are standardized, meaning the basic benefits of each plan are the same regardless of the company offering it
  • Most do not have network restrictions (unless looking at a lower cost “Select” Medicare supplement insurance plan)
  • Do have monthly premiums
  • You cannot deny your coverage when you first enroll in Medicare. If you are signing up
  • for this type of plan after your Initial Medicare Enrollment Period, the plan’s approval
  • and cost will be subject to medical underwriting
  • Are guaranteed renewable, meaning you are covered as long as you pay the premium
  • within the grace period (except in cases of material misrepresentation by you)