Step 1: Choose Between Medicare Supplement and Medicare Advantage
The first and most important decision is selecting either a Medicare Supplement Plan (Medigap) or a Medicare Advantage Plan. Both have their pros and cons, so let’s break them down.
Medicare Advantage Plan
- Becomes your primary insurance: Medicare Advantage (MA) takes over your Medicare coverage, meaning you’ll have a network of doctors and providers.
- Network restrictions: Depending on whether the plan is an HMO or PPO, you may need referrals and must stay within a specific network.
- Additional benefits: Many plans include prescription drug coverage (Part D), dental, vision, and even fitness memberships.
- Lower monthly cost: Many Advantage Plans have $0 monthly premiums, making them budget-friendly.
Medicare Supplement (Medigap) Plan
- Works alongside Original Medicare: Medigap policies pay after Medicare pays its share, covering out-of-pocket costs.
- Nationwide coverage: No network restrictions—you can see any doctor that accepts Medicare.
- No referrals needed: Unlike MA plans, you don’t need referrals for specialists.
- Higher monthly premium: Plans typically cost $100 or more per month, but coverage is more comprehensive.
- Separate Part D coverage needed: Medigap plans don’t include drug, dental, or vision coverage, so those must be purchased separately.
Step 2: Finding the Best Medicare Supplement Plan
If you’ve decided on a Medicare Supplement Plan, the next step is choosing the right plan letter. The two most popular options are Plan G and Plan N.
Plan G vs. Plan N: What’s the Difference?
- Plan G: The most comprehensive plan—covers everything except the Medicare Part B deductible. No co-pays or excess charges.
- Plan N: Lower premium but requires co-pays for doctor visits and does not cover Part B excess charges.
Choosing the Right Insurance Carrier
Once you’ve chosen between Plan G and Plan N, it’s time to compare insurance carriers. Here’s what you need to know:
- Identical benefits: All Plan Gs or Plan Ns provide the same benefits, no matter which company you choose.
- Different pricing: Premiums vary by carrier, so it’s essential to compare rates.
- Company ratings: Look for insurers with A-rated financial stability to ensure long-term reliability.
Instead of calling multiple carriers for quotes, let Bluewave Insurance do the work for you! We compare rates from top carriers to help you find the most competitive plan. Call us at the number below for a free consultation.
Step 3: Finding the Best Medicare Advantage Plan
If you prefer a Medicare Advantage plan, the process of choosing the best one is different. Here’s what you need to consider:
- Provider Network: Does the plan include your doctors and preferred hospitals?
- Prescription Drug Coverage: Does the plan cover your medications at a low cost?
- Plan Type: Do you want an HMO (lower cost but strict network) or a PPO (higher flexibility)?
- Extra Benefits: Does the plan offer dental, vision, hearing, or wellness programs?
How to Compare Medicare Advantage Plans
You can compare plans by visiting Medicare.gov and entering your ZIP code to see available plans in your county. However, there’s a downside:
- Provider networks are not listed on Medicare’s site, meaning you have to check each plan’s website manually.
- Time-consuming: Checking provider networks and drug formularies can take hours.
The easier way? Work with Bluewave Insurance! We use advanced software to check which plans cover your doctors, prescriptions, and specific needs. We provide free consultations to make the process easy for you. Call us today for personalized assistance!
Step 4: Choosing a Part D Prescription Drug Plan
If you go with a Medicare Supplement Plan, you’ll need to purchase a separate Part D drug plan. Here’s how to find the best one:
- Use Medicare’s Plan Finder: Enter your ZIP code and medications to see which plans offer the best coverage.
- Compare formularies: Each Part D plan covers different medications at different prices.
- Work with Bluewave Insurance: We help our Medigap clients find suitable Part D plans at no extra charge!
(Note: We do not offer standalone Part D plans due to low commissions, but we assist clients who purchase Medigap through us.)
Why Work with Us?
Many people find the Medicare process overwhelming, and that’s where an independent broker like us can help. Here’s why:
- Unbiased advice: We compare multiple plans and carriers to find the best fit for you.
- Time-saving: Instead of researching dozens of options, we do the heavy lifting.
- No cost to you: Our services are 100% free—insurance companies pay us, not you.
- Ongoing support: We assist with claims, rate increases, and plan changes.
Get Personalized Help Today!
Choosing the right Medicare plan is crucial for your healthcare and financial future. Whether you’re looking for a Medicare Supplement Plan, Medicare Advantage Plan, or Part D coverage, Bluewave Insurance is here to help.
Call us at 800-208-4974 for a free consultation! We’ll guide you through the process and ensure you get the best plan for 2025.
Alex Wender is the founder and CEO of Bluewave Insurance. He has been blogging about Medicare-related topics since 2010. Since then, he and his agency have helped thousands of people across the country choose the right Medicare to fit their needs.
