Secured Benefits Group

Both Medicare Advantage and Medigap supplement original Medicare to provide more coverage, but there are some important differences between the two.

To find out which Advantage or Medigap plans are available in your area, please complete this questionnaire.
 

What is Medicare Advantage?

Medicare Advantage is private health insurance through Medicare that often also includes prescription drug coverage, or Medicare Part D. The plans usually provide coverage for things like vision, dental, disability services, home health, and other health care needs not covered by original Medicare, and makes it convenient by combining everything into one plan.

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Medicare Advantage plans can be HMOs, PPOs, Special Needs Plans (SNPs), private fee-for-service (PFFS) plans, or Medical Savings Account (MSA) plans. While Medicare Advantage patients don’t need referrals to see a specialist, there are some limits when it comes to providers.
 

Advantages of Medicare Advantage Plans:

• More coverage and benefits, which can include services like gym memberships, long-term care, and disability equipment

• Lower or no premiums

• An all-in-one plan which covers Medicare Part A, B, and D
   

Some disadvantages of Medicare Advantage include:

• Having to make sure your preferred provider is in your network

• No coverage while traveling

• A likelihood of higher out-of-pocket and emergency costs
   

What is a Medicare Supplement?

Medigap, also known as Medicare Supplement Insurance, adds to original Medicare by filling in gaps where you aren’t covered. Medigap plans usually don’t cover vision, hearing, long-term care or at-home care. However, they're useful for specific types of coverage, such as health insurance while traveling or frequent emergency care.

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For instance, under Medigap plan N, foreign emergencies and hospital visits are covered, while emergency visits cost $50. Medigap plan F, a more expensive plan, pays for Part B deductibles while covering the 20% cost of services Medicare doesn’t pay.

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Medigap plans do not provide prescription drug coverage, and Medigap cannot be combined with Medicare Advantage. But Medigap plans are a way to tweak your Medicare to your specific situation while covering larger expenses.

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Some advantages of Medigap plans include:

• Fewer out-of-pocket expenses

• Access to all providers who accept Medicare

• Coverage while traveling overseas
   

Some disadvantages of Medigap plans include:

• Higher monthly premiums

• Having to navigate the different types of plans

• No prescription coverage (which you can purchase through Plan D)
   

(source https://www.webmd.com/connect-to-care/medicare/medicare-advantage-versus-medigap)

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To find out which Advantage or Medigap plans are available in your area, please complete this questionnaire.

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