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Medicare Insurance Guide

Medicare Insurance provides seniors age 65+ with additional options to supplement Medicare. Generally speaking, Medicare only covers 80% of your doctor and/or hospital bills. The rest is up to the individual to cover. As a result, seniors are increasingly turning to medicare insurance to help offset what Medicare doesn’t cover. These options include Medicare Supplemental Insurance which often covers costs that Medicare doesn’t pay; Medicare Advantage plans which are private insurance plans as an alternative to Medicare and Medicare Part D which is optional prescription drug coverage.

How Does Medicare Insurance Work?

Medicare Insurance providers offer options to enhance Medicare. These products add on to Medicare by generally covering the gaps in Medicare coverage. We encourage consumers to independently research providers and compare costs, coverage, premiums, etc.

What Are The Different Types of Medicare Insurance?

There are several factors to consider before deciding to proceed with medicare insurance. As with any large decision, it’s helpful to have an understanding of the pros and cons associated. Some of them include:

Medicare Supplement Insurance, also known as Medigap:

  • Generally covers the costs that Medicare doesn’t pay, such as deductibles, copayments, and coinsurance.
  • Since Medicare typically only covers 80% of costs this supplemental insurance generally covers the remaining amount.
  • Similar to Medicare, there is no referral or network needed. If your physician or hospital accepts Medicare they will accept your Medigap plan.
  • It does not cover prescription drugs. You would need to purchase a Medicare Part D, also known as Prescription Drug Coverage plan.

Medicare Advantage, also known as Part C:

  • Insurance plans offered by private companies as an alternative to Medicare. These plans are overseen by CMS (Centers for Medicare and Medicaid Services).
  • These plans typically have additional benefits that aren’t covered by traditional Medicare.
  • Plans look more like employer plans with a range of HMO, PPO and other options. You can pick a plan based upon your budget and your needs.

Medicare Part D, also known as Prescription Drug Coverage:

  • Optional coverage that works in conjunction with Medicare Part A and/or Part B. Provides a list of covered medications. At least two medications are provided for each disease class.
  • Plans for Medicare Part D vary on premium, deductible, copay amounts, tiers, and pharmacy.

What is the Process of Getting Medicare Insurance?

The process of getting medicare insurance is straightforward and typically entails the following steps:

  1. Research and identify companies that may be right for you. Fill out an online form or give them a call to start the process.
  2. Speak to a Licensed Insurance Agent to discuss your particular circumstances and to have your questions answered.
  3. Should you choose to proceed, you can enroll in one or more medicare insurance plans such as Medigap, Part C for a private insurance plan, and/or Part D for a prescription drug plan

How We Rate Medicare Insurance Providers

We independently identify medicare insurance companies. From there our editors review them in a myriad of ways from impartially secret shopping to checking consumer reviews to validating fees, types of products offered, and time to close amongst other criteria. Our goal is to present objective representations of companies to give consumers informed information to make a decision.


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Best Overall

#1 Rated Medicare Insurance Company

Mutual of Omaha Medicare
  • Top-Rated Medicare Insurance Company
  • Medicare Supplement Plans
  • Prescription Drug Plans
  • Dental Insurance Plans
  • In Business 100+ Years