Let’s compare Medicare Advantage and Medicare Supplement (Medigap) plans:
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Medicare Advantage (Part C):
- Combines Medicare Part A (hospital insurance) and Part B (medical insurance) into one comprehensive plan.
- Often includes Part D prescription drug coverage as well as additional benefits like vision, dental, and fitness benefits.
- Requires you to use a restricted network of providers, hospitals, and suppliers.
- Some plans may offer out-of-network provider coverage.
- International travel coverage is available.
- You must also be enrolled in Medicare Part A and Part B to qualify for Medicare Advantage.
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Medicare Supplement (Medigap):
- Typically has predictable monthly payments, but these can be expensive and increase annually.
- Works alongside Original Medicare (Part A and Part B) to help cover out-of-pocket expenses.
- Helps fill the gaps in coverage left by Original Medicare.
- Policies vary but may cover expenses such as deductibles and copayments.
- Does not include prescription drug coverage, so you’ll need to enroll in Part D separately.
- Does not restrict your choice of providers; you can see any doctor or specialist who accepts Medicare.
- Does not cover spouses; each person must buy separate coverage.
- Some Medigap plans have annual out-of-pocket limits (e.g., Plans K and L).
In summary, Medicare Advantage provides an all-in-one solution with additional benefits, while Medicare Supplement fills the gaps in Original Medicare coverage. The right choice depends on your individual health needs and preference.
To learn more about your Medicare Plan Options, fill out the contact form at the side or just give Ralph a call at 602-390-8573