What type of Insurance Plans are available for someone on Medicare?

You really have two options. You can purchase a Medicare Supplement plan or choose a Medicare Advantage Plan. Either way you must sign up for Medicare Part A and Part B.


Medicare Supplement/ Medigap

If you want to go the supplement route then you need to find a Medicare Supplement or Medigap plan (they mean the same thing and help cover your deductibles, co-pays and coinsurance.) Hence their names! You have so many choices and every insurance company wants your business. They say they all have the best plans, choices and costs.

Be a smart consumer and shop around. All Medicare Supplement plans are standardized (that means the benefits are identical with every Insurance Company that sells Plans A-N)  For Example: Plan F benefits are the same with every company that sells them but pricing is different and there can be a huge gap between lowest and highest priced policies. My mom always told me not to buy cheap and was she ever right in regards to a Medicare supplement plan. You want a good solid company that has been in the Medicare Supplement market for years. See below for the comparison of the different Medicare Supplement Plans.

Types of Insurance Available


- Information about Medicare -

Medicare Advantage Plans

Medicare Advantage Plans are a different animal. They are not a supplement but plans offered by private insurance companies. Part C, Medicare Advantage plan combines Part A & B (yes you still have to have them) and sometimes include your Prescriptions and additional benefits like dental and vision. Make sure you understand the different choices available.