Hyers & Associates

The short answer is: yes.

At Ohio Insurance Plan, we currently operate in three states; Ohio, Missouri and Georgia. And in these states, we have noticed a trend. Consumers over the age of 65 are looking more closely at purchasing Medicare Advantage plans over a traditional Medicare Supplement.  (Contact us for a Medicare Supplement Quote today!)

In our opinion, supplement plans are usually the better way to go. The consumer might pay a little more in premium, but their out of pocket expenses in the long haul should be much less with a Medigap policy.

Advantage plans can be tricky. In a nutshell, when you sign up for these plans you are basically signing up for private insurance over traditional Medicare. An advantage plan will replace your Medicare coverage and any supplement plan you may or may not own.

If you are healthy, like any other insurance, you need not worry about your plan. In fact, you will probably save money by enrolling in an Advantage Plan. However, if you get sick and have a claim, Advantage plans can have quite a few out of pocket expenses - which in the short or long haul can be much more than a Medicare Supplement premium.

The other issue with an Advantage plan is that they, like any private insurer can go out of business. In Ohio, we have seen a couple of providers pull out, thus leaving their policyholders without insurance. If this happens, you can always re-enroll in Medicare, but you still have to be healthy enough to be accepted into a Medicare Supplement plan.

Like any type of health insurance product, you need to be healthy in order to purchase and be accepted into the plan. If you have enrolled in an Advantage plan, then they leave your area - and your health has deteriorated - you may have few opportunities to purchase a supplemental policy. By trying to save a few initial dollars, you have lost much more in the long haul.

Of course, there is a place for Advantage plans. In many cases, seniors who are already too unhealthy to qualify for a Medicare Supplement or have low incomes should take a look at enrolling. But if you have the health and the means, a Medicare Supplement should be your first choice.

To learn more about senior health insurance, please visit:

http://www.ohioinsureplan.com/health_medicare_supplement.php