Medicare Advantage vs. Medicare Supplement Program Designs

Medicare Advantage and Medicare Supplement plans have different program available based on your situation. When you buy a Medicare Supplement plan, you are still enrolled in Original Medicare. The supplement part, which is private insurance just simply covers the extra copayments and deductibles. This is often referred to as a Medigap policy.

When you enroll in a Medicare Advantage plan, you move completely into a private health insurance plan. This means that you no longer have or are on Traditional Medicare. If you choose an Advantage plan, then you would not need a Supplement policy.

What is Final Expense Insurance?

Final expense insurance or burial insurance are used to describe life insurance for seniors, in that a policy may be issued on a term or whole life basis. Term life policies provide financial protection for a set period of time, often up to the age of 80. At that time, if no claim has been filed and the policyholder is still alive, the policy will expire. Whole life policies cover you for your entire lifetime once you’ve signed your contract, no matter when your death occurs. Age limits for purchasing a final expense policy may vary.