What Types Of Medicare Plans Are There?

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   Ted Ratliff

   Owner, SFS Associates,

   When you qualify for Medicare there are two basic choices, you can keep original Medicare and purchase a Medicare Supplement and Prescription drug plan or you can enroll in a Medicare Advantage Plan.  Medicare Supplements have a variety of coverage options.  Medicare Advantage Plans basically take the place of original Medicare in that administration is taken over by the insurance company.  You have HMO's.  These plans have a network that you MUST use.  PPO's or Preferred Provider Organizations, you can use any provider but the copay's are less if you stay in network.  You also have a few Private Fee For Service plans still out there.  These are less popular because even though you can go to any doctor, that doctor can refuse coverage on a visit by visit basis.  These are the most common plans available.  A good agent specializing in the needs of seniors can go into more detail on how they work and the options available.

   Answered on May 25, 2013

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