When you retire or become disabled, you are automatically entitled to Medicare healthcare coverage. However, Medicare on its own does not cover all of your medical and prescription costs. In fact, even after it pays its part, it may still leave you with thousands of dollars left to pay on your own.

To reduce your out-of-pocket costs, you need to take out a supplemental policy that will pay for most or all of what Medicare does not. These important factors are some to look for when you shop for new Medicare Advantage policies.


Before you choose a policy to supplement your Medicare insurance, you need to find out what kind of coverage that it can offer to you. A worthwhile Medicare Advantage policy will pay for most or all of your remaining balances for doctors' visits and prescriptions. It also should offer a significant amount of coverage for hospitalizations and specialized services like rehabilitation, glasses, and dental work.

Even if does offer this type of coverage, however, it also needs to pay for a majority of your leftover costs. The policy may not be worth buying if it only covers 20 or 30 percent of your remaining balances. You ideally want the percentage to be much higher so your out-of-pocket costs are more affordable or nonexistent.


You also may prefer to choose a Medicare Advantage plan that offers an extensive network. You may not necessarily want to change doctors or pharmacies. You want your new coverage to be in-network with the providers that you have gone to for years.

Before you buy a plan to supplement your Medicare policy, you can check its network and find out if your providers accept it. Supplemental coverage offered through well-known insurers typically has larger networks and more providers who accept it. 


Finally, you need to shop for a Medicare Advantage policy that is in line with what you can afford to pay each month. Medicare itself does not cost anything. However, plans that supplement it typically charge premiums that you must pay to keep them active. You want to buy one that will not break your retirement budget.

These factors are some to take into consideration when buying Medicare Advantage plans. You need a policy that will supplement Medicare and pay for most or all of your remaining costs. It also needs a large network and an affordable premium price.