Medicare Advantage vs Supplement | Most Get This Wrong

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But this is critical, Original Medicare was never meant to be a stand-alone insurance program. It was a huge improvement over what else was available in the mid-1960s, but is nowhere near 100% coverage and provides no limit on the financial risk for the consumer.
That is why, in 1966 as Medicare was launched, insurance companies introduced the Medicare supplement insurance program. Not the government, insurance companies.
Original Medicare plus a supplement is full healthcare coverage.
Now both Medicare and supplement plans have evolved significantly since then. In 1980 the federal government took over oversight of Medicare supplements and in 2010 they were standardized and re-designed to the improved coverage we have today.

In 1997 the first Medicare Advantage plan was introduced as an HMO, to give consumers a choice between Traditional Medicare or an HMO.
It was intended to offer the consumer more choices by providing a privatized replacement of Original Medicare Part A and B, and eventually save money for the government.
That’s the important point that I have been leading to, Medicare Advantage plans are designed to compete with Original Medicare alone.
They do not compete with Medicare plus a supplement.

Links for referenced material in this video:

https://www.morningstar.com/news/business-wire/20231128174955/mark-farrah-associates-assessed-employer-group-medicare-advantage-membership-trends

https://www.markfarrah.com/mfa-briefs/employer-group-medicare-advantage-year-to-date-enrollment-updates2/

https://www.kff.org/report-section/medicare-advantage-2024-spotlight-first-look-data-note/
https://www.kff.org/medicare/issue-brief/medicare-advantage-in-2023-enrollment-update-and-key-trends/

Margins: https://www.kff.org/report-section/financial-performance-of-medicare-advantage-individual-and-group-health-insurance-markets-issue-brief/


Income: https://www.kff.org/medicare/issue-brief/a-snapshot-of-sources-of-coverage-among-medicare-beneficiaries/


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