Best Medicare Plans

Since you are looking for the best Medicare plans for your situation, you may have already enrolled in Medicare Part A and Part B, and you aren’t sure whether you want Medicare Advantage or a Medicare Supplement through a health insurance company. This article will answer your questions and help you find the best Medicare plan for your situation and health care needs.

Medicare Advantage Plans

Beneficiaries may forgo their Original Medicare insurance and accept a Medicare Advantage policy instead. Medicare Advantage policies are sold by private insurance companies that contract with Medicare. You will still receive your Medicare Part A and Part B benefits, but they will come from a private insurance company rather than Medicare. These may be some of the best Medicare plans to consider if you prefer lower monthly premium costs.

Advantage policies are the most popular plans within a network, and insurance companies give you a choice when you are looking for a Medicare policy to purchase. For example, they have the best Medicare Advantage policies under the following:

  • Health Maintenance Organizations or HMOs
  • Preferred Provider Organizations or PPOs
  • Private Fee-for-Service Plans or PFFS
  • Plans or SNPs
  • Medicare Medical Savings Account Plans

If you will be enrolled in a Medicare HMO plan, you will need to obtain referrals before you will be able to see the specialists in your network. However, you do not need referrals to see specialists with the best Medicare PPO plan. You will be able to see specialists when you need to, but your insurance company will charge you more if you go outside of your network. Referrals are not necessary when you have a PFFS Medicare plan.

Medicare Supplement Plans

Medicare Supplement policies are the best Medicare plans that do not have networks. Not having a particular network means that you can see the physicians in any network, and your medical services will not necessarily be restricted. Therefore, you might consider these the best Medicare plans because they offer you more freedom than those requiring you to remain within a network.

Medicare Supplement policies are also called “Medigap policies,” providing supplemental coverage for your Original Medicare insurance. The best time to purchase Medigap policies is during the Medigap open enrollment period. It begins the month you turn 65 and become enrolled in Medicare Part A and Part B, and it lasts for six months.

Medicare Plans With RX Prescription Drug Coverage

If you need to be covered for prescription drugs, the best Medicare plans for your situation will not be any of the Medigap policies. That is because none of the Medigap policies include prescription drug benefits. In this situation, you will need to look into Medicare Advantage plans instead of Medigap plans. The plan will likely offer prescription drug benefits if you obtain one of these policies from an HMO.

You may choose to purchase a Private Fee-for-Service Medicare plan, and if you do, you may be able to select one that pays for prescription drugs. The policy will include prescription drug coverage if a Special Needs Plan is for you.

The Medicare policy you choose may not have the prescription drug policy you need, but you will be able to purchase a Medicare prescription drug policy in this instance. Medicare Part D is Medicare’s prescription drug policy, and you have several options.

If the best Medicare plan for you are policies offered by a PPO, you may choose a policy that provides you with prescription drug coverage. However, if you purchase a policy in a PPO that does not pay for prescription drugs, you will not be able to purchase a Medicare Part D policy.

Best Medicare Plans on a Fixed Income

If you are 65 years of age, have a disability, or have been diagnosed with End-Stage Renal Disease, you are eligible to compare some of the best Medicare plans in your state. If you are also living on a fixed income, you may be eligible to apply for Medicaid, which is free. The eligibility requirements are different for every state, but you may visit the link below to learn whether you are eligible or not. If so, Medicaid will help pay all or some of the portion your Original Medicare insurance does not cover.

If you do not qualify for Medicaid, you may purchase the best Medicare Advantage plan for your situation from a Medicare insurance company. This is a better option for some than having Medicare Parts A and B, even with Medicare Supplement insurance. In addition, these may be more cost-effective for you because different private insurance companies will offer you different rates. The only way to understand the best Medicare plan for you is to ask several insurance companies to quote you their rates so you can compare them. After all, there are many plan options. When comparing rates, you will see that some insurance companies will quote you high rates, but others will quote much lower rates. The trick is to make sure that you compare similar benefits to choose the best plan with the lowest rates.

When you compare the best Medicare plans for your situation, you will need to make sure that you ask how much the following will be under each Medicare plan. You’ll want to look for a plan that can help you reduce your out-of-pocket costs as much as possible.

  • Coinsurance
  • Copayments
  • Deductibles
  • Premiums

Additionally, you may want to look for a plan that includes a prescription drug plan to save you money on medication.

To Learn More About the Best Medicare Plan For Low Income, Go Here:


You can also check out if you want to sign up for Medicare coverage in the form of Medicare Part A and Medicare Part B. This will need to be done first if you want to sign up for one of the health plans to help reduce your Medicare costs.

Mark Prip

For more than two decades, Mark Prip at My Medigap Plans has been an authority figure in the insurance industry and continues to uphold a mission to provide customers with comprehensive information about Medicare, life, and dental coverage. In addition, his expertise is unmatched - having helped thousands of Medicare beneficiaries choose suitable healthcare plans for themselves - making him stand out above competitors.