Understanding Medicare Advantage Plans

It's that time of year again! If you're thinking about getting an Advantage Plan, it's important to know what is involved. Now, a Supplement consists of a monthly premium that covers the costs Medicare doesn't cover. It "supplements" your Medicare, so that's pretty easy to understand. In contrast to Supplements, Medicare Advantage plans are run by private insurance companies and sort of work like traditional insurance with co-pays and referrals. For this reason, many people prefer Supplements over Advantage Plans since they're easier to use and are more comprehensive, but there are definitely some advantages to Advantage Plans.