There are several considerations to keep in mind as you begin exploring options in the Medicare market. 

What is the difference between a Medicare supplement and a Medicare Advantage plan?

They are not the same – in fact, they work very differently.

Below are some questions to consider to evaluate which works best for you:

• Do your primary physician(s) participate in any Medicare Advantage plans or do they only accept original Medicare?
• What insurance is accepted by your preferred hospitals?
• Do you travel out of the area frequently? If so, you might find original Medicare with a Medicare supplement to be a good fit for you since you can use it for any doctor or hospital in the nation that accepts Medicare.
• What is your risk tolerance? If you have a year of heavy health spending, do you have enough savings to spend the possible out-of-pocket maximum that a Medicare Advantage plan might require?
• How about peace of mind? Are you a person who will sleep better at night if you have a lower premium and just pay for services as you go? If so, you might be a good candidate for a Medicare Advantage plan. Otherwise, if you tend to worry about unexpected expenses, a Medicare supplement could give you the peace of mind of knowing exactly what medical spending you will incur regardless of your health.