Medicare Advantage vs Supplement | Most Get This Wrong

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But this is critical, Original Medicare was never meant to be a stand-alone insurance program. It was a huge improvement over what else was available in the mid-1960s, but is nowhere near 100% coverage and provides no limit on the financial risk for the consumer.
That is why, in 1966 as Medicare was launched, insurance companies introduced the Medicare supplement insurance program. Not the government, insurance companies.
Original Medicare plus a supplement is full healthcare coverage.
Now both Medicare and supplement plans have evolved significantly since then. In 1980 the federal government took over oversight of Medicare supplements and in 2010 they were standardized and re-designed to the improved coverage we have today.

In 1997 the first Medicare Advantage plan was introduced as an HMO, to give consumers a choice between Traditional Medicare or an HMO.
It was intended to offer the consumer more choices by providing a privatized replacement of Original Medicare Part A and B, and eventually save money for the government.
That’s the important point that I have been leading to, Medicare Advantage plans are designed to compete with Original Medicare alone.
They do not compete with Medicare plus a supplement.

Links for referenced material in this video:

#medigapseminars #medicareadvantage #medicaresupplement

[nnonotnow]

I've had a Medicare plan and a Medicare supplement plan for about 8 years. And the supplement plan pays whatever Medicare doesn't. Minus whatever deductible you choose. Monthly premium has gone up over the years. In some years I may have paid more for the plan than I got in services, but there have been years when it's literally saved me thousands of dollars. So over the time frame I've had it. It's definitely paid for itself not only financially but in not having to worry about having a procedure done. And not needing a pre-authorization. If my doctor says go I go I can go to any doctor. I want anywhere in the nation. Medicare advantage plans are basically private insurance. High deductibles, high rejection of coverage. Pre-qualifications. Looks cheaper on the front end but you're going to lose on the back end. So listen to this man

[JohnJohn-wrjo]

I have a niece who worked for one of the largest MA provider in the US. She worked in several finance sections prior to working in the dept that reviews and approves/denies surgery, procedures, tests, prescription drugs etc. She resigned shortly after discovering the tactics that the company employed through their denials and how they treated their customer's by denying the necessary treatments that doctors had ordered. She said it was the most depressing experience in her life to follow company protocols that she knew were killing people prematurely. She couldnt handle it and is now an outspoken critic of the industry.

[tjsmith]

Matthew is probably the most informed and objective source for Medicare insurance information. The relentless advertising and promotion of advantage plans to the uninformed General Public is unfortunate. Keep up the great work Matthew!!

[Okieman]

You told us in this video very much what our agent told us when we enrolled in A+B+Supplement, we pay a monthly fee for the supplement but beyond that the only thing we have paid is the once yearly $230 Medicare deductible and last year I had 3 overnight hospital stays for a total out of pocket cost of $0.00. I am trying to spread the word, that if you have the choice and the funds, stick with a supplement. Medicare Advantage or should we say Medicare Dis-Advantage is great as long as you never get sick.

[anitamanuel]

I was a Medicare sales agent with an FMO and I almost was brainwashed against Medicare Supplements. Thanks to your videos and others that tell the truth about medicare advantage plans, the damage done by that company was reversed. Before I left that company, we were told that they would no longer be offering supplements. That disturbed me but I was still under the spell of the lies, I eventually left the company due to health reasons and now I am glad that I did. The more that I learn the less I am willing to go back to companies that enforce advantage plans and leave out information about supplements. If I could find a company that tells the whole truth about Medicare plans, I would go back into the sales field. I live in Florida and so far I have not found such a creature. So, I have to rely on you for the "truth" because I will be going on Medicare in July. I will be getting a supplement!! Thank you for your honesty. I have learned so much.

[sporter]

Excellent! Finally a straight shooter who tells it like it is. I am a physician and I can tell you we hate the administrative red tape The Advantage Plans put us through. That is why we are dropping our participation in these plans. They are not worth the trouble or added administratve payroll that is required of us to provide care. Good luck with your new doctor you had to switch over too be cause you chose advantage plan.

[annelynch]

Thank you. I just met with a Medicare broker yesterday. He tried to tell me original Medicare with a supplement required pre authorizations just like advantage plans and he didn’t know of any of his clients who had delayed or denied procedures. I said I had to review the plans before making a decision. But what I did is make an appointment with a different Medicare agent

[sunflowermarcia]

Matthew is why I went with traditional Medicare and supplement. It was a great decision.

[bavedoyd]

In the year leading up to turning 65, I researched this topic and discovered Matthew's videos, and I'm SO glad I did. I chose traditional Medicare with a Plan N supplement. The more I learn about the topic, and there's a lot to learn, the more I confident that I made the right choice for me. Thank you, Matthew!

[pplywnt]

Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.

[Dogsnark]

Thank you for explaining this. When I get mailings soliciting my participation in a medical insurance plan, it’s ALWAYS for an advantage plan. Until I watched your video, I didn’t know why there are so many advantage plans looking to hook me up. They talk about free gymn membership, vision and hearing test coverage…all kinds of tempting offerings. But I suspected, and your video confirmed this, there is big money to be made by companies offering advantage plans. Money for them, not medical coverage for me. I just toss these mailings. I have a Medicare Supplement plan, and I’m keeping it!

[pperdion]

It's not just the supplement premium, It's also part D (prescriptions) dental, vision. It's a lot for some people.

[Nano-fhyi]

This was definitely an eye opener for me and my husband! He was “sold” on a Medicare Advantage plan but I was not. I have been watching your videos for a few years now and I really, really trust you. I can’t say that enough. I really trust you! We have now decided NOT to get the advantage plan. Every year at open enrollment I become a nervous wreck and feel sick because I just don’t understand so much about Medicare, especially part D. My hubby is now sold on MedigapSeminars!!! If we could afford a supplement, we would get one, but it’s not an option for us. Thank you so much. I’m sending you a big hug!

[mktwatcher]

Very good explanation of the differences between Medicare A+B, Advantage Plans and Supplemental Plans. Thank you.. My wife and I are very pleased to have chosen to go with supplemental plans from Mutual of Onaha.

[mrmja]

Thank you for spelling all this out in a way thats easy to understand. I play pickleball and love it. Im turning 65 in a week and started medicare this month. I chose to keep A and B and add N since im very healthy and can afford N. I like the idea of chosing what ever Dr. I want where ever I am. I like to travel. I also at this point in my life only see a Dr for my annual physical or an emergancy once in a while. I take no meds and stay active. Everyone I have talked to has an advantage plan. I think its the zero cost that sold them and they all like the silver sneakers free gym thing. Im very happy I chose what I did and will recommend anyone watch your vidoes, thank you.

[bigd]

Pretty much have decided on original Medicare (A&B) plus N and Part D, whenever I decide to retire. The cost and "perks" of an Advantage plan sound appealing, but not worth the risk of possible out of pocket expenses compared to original Medicare with a supplement plan. Health conditions can change quickly and with us in the over 65 crowd, that's a huge consideration at least in my opinion. And i want my medical decisions to be made between me and my doctor, not an insurance company.

[karenbonnin]

Matthew enjoy listening to your videos as they have helped me navigate the Medicare world, which I entered into early 2023. I am so glad I selected a Medicare Supplement N plan as I have had some unique and life threating illness come up over the past six month. Had no issue in finding a doctor and getting the necessary treatments which have placed me on the road to recovery.

[TM-yniu]

Factually Brilliant!!! I have shared my limited research with friends and family on this. You have identified key points I shared but better yet, many i didn't. A bragging point - bonuses on employee retirement insurance. Thank you again.

[uncklefrankmoore]

I have to make a decision like "today". I am on disability and barely have money to pay my regular bills. I guess advantage plans are not for me. I am 52 and pretty healthy. I haven't been sick in over 22 years. I tried to do the research and found these videos. They helped to realize that i am to poor to afford ANY coverage that will actually help me. No advantage plans and supliment plans are almost as bad for OKLAHOMA. I dont know what TF to do..

[nmyvijw]

Excellent video. Important information framed in a new way. One of your very best.