As you begin your search for Medicare Supplement insurance, there are several key factors to consider.

First, understand the difference between the two main types of Medicare plans: Medicare Supplement (Medigap) and Medicare Advantage (Part C). These plans operate differently and offer distinct approaches to coverage.

Once you’re familiar with how each plan works, ask yourself the following questions to help determine which option best fits your needs:

1. Do your primary doctors participate in any Medicare Advantage networks, or do they only accept Original Medicare?

2. What insurance is accepted by the hospitals you prefer?

3. Do you travel frequently? If so, Original Medicare with a Medigap plan may be more suitable, as it’s accepted by any doctor or hospital nationwide that takes Medicare.

4. What is your risk tolerance? If you face high medical expenses in a given year, do you have the savings to cover the out-of-pocket maximum under a Medicare Advantage plan?

5. What gives you peace of mind? If you’re comfortable with lower premiums and paying for services as needed, a Medicare Advantage plan may be a good fit. However, if you prefer predictable costs and less worry about unexpected bills, a Medigap plan might offer more financial security.

Taking the time to reflect on these questions can help you make a more confident and informed Medicare decision.