Medicare Supplement vs. Medicare Advantage
Medicare Supplement
Medicare Supplements are standardized plans A-N sold by private insurance companies that help fill in the gaps of Original Medicare Parts A and B.
Freedom to choose the doctor or hospital provider you choose. There are no networks when it comes to Medicare Supplements.
Your plan is guaranteed to be renewable each year, even if your health worsens over time.
No Referrals to see a provider, does not include prescription drug coverage.
Common benefits covered by Medigap plans include
Part A and Part B coinsurance or copayments.
Deductibles for both Part A and Part B.
Excess charges from providers who do not accept Medicare assignment.
Skilled nursing facility care coinsurance.
Foreign travel emergency coverage.
Medicare Advantage (Part C)
Medicare Advantage Plans (MAPD or Part C) are an all in one HMO, PPO, PFFS, or SNP plan that covers all of the benefits in Medicare Parts A, B, and D.
MAPD come with extra benefits not found in Original Medicare. Such benefits include, prescription drugs, dental, vision, hearing, and in some cases an OTC allowance.
Monthly plan premiums vary from plan to plan with some being as low as $0 per month.
Most plans have very low out of pocket maximums.
Benefits of Medicare Advantage
All-in-One Coverage: With Medicare Advantage, you can manage all your healthcare needs under one plan, reducing the hassle of juggling multiple insurance policies.
Lower Out-of-Pocket Costs: Many Medicare Advantage plans offer lower out-of-pocket costs compared to Original Medicare, with an annual limit on what you have to pay for covered services.
Extra Benefits: Enjoy additional benefits that enhance your overall healthcare experience, from dental and vision care to wellness programs and fitness memberships.
