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Is it Better to Have Medicare Advantage or Medigap?

Medicare Advantage and Medicare Supplement Insurance, also known as Medigap, are two very similar and popularhealth care coverages. These two policies have been comparedto one another numerous times throughout the history of healthcare. This comparison usually comes about when Medicare beneficiaries try to find alternative ways to offset out-of-pocket healthcare costs (fees) not covered by Original Medicare.

Some of the items not covered by Original Medicare are deductibles, copays, and other medical expenses. Without supplemental insurance options for Original Medicare, your savings could be wiped clean when paying these fees should a serious illness were to hit home.

What Does Medicare Advantage Cover?

By federal law, all Medicare Advantage plans must cover all the services that are offered by Original Medicare. However, Medicare Advantage plans are not required to coverhospice care. That is covered by Original Medicare whether you were in a Medicare Advantage plan or not.

Medicare Advantage plans offer emergency coverage even if you are outside the coverage area. However, there is no coverage if you are traveling outside of the United Statesor any of its territories.

A few more popularbenefits that arevision care, dental care, andvarious wellness programs. These plans also provide coverage to its beneficiaries for prescription drug coverage. In addition, Medicare Advantage can providemore options for you and at a lower cost than a combination of Original Medicare with a Medigap policy attached.

What Does Medigap Cover?

Medigap is a private health insurance policy that can also help offset out-of-pocket health care costs (fees) not covered by Original Medicare. One majordifference between Medicare Advantage and Medigap is Medicare premiums can be paid or mixed in with your Original Medicare monthly payment. Medigap cannot. Medicare does not cover any dollars associated with the Medigap policy you secure. Just like Medicare Advantage, Medigap can also cover deductibles, copays, andother medical expenses.

Another major factor to consider is one’s lifestyle. If you are a personwho rarely travels out of the country, Medicare Advantage could be a greatoption for you.

If you are a personwho travels a lotor considers yourself to be a “snowbird,” Medicare Advantage may not be the best option as it does not cover you while you are outside of the United Statesor any of its territories. Medigap would generally cover you outside of the U.S. or any of its territories. As a result, Medigap policies are more expensive than Medicare Advantage policiesand are more likely to cover services you received that are out of network.

As you can see, these two policies are very similar to one another. However, there are some nuances to each of them that one must look at. The three key factors to examine areyour lifestyle, cost of plans, and options of each policy. Thiswill help you determine which is the best for your unique situation.

To enroll in Medicare, or to learn which Medicare Advantage or Medigap planis the best for you, contact the professionals at at (877) 829-1109. Our licensed insurance experts will be happy to guide you and answer any questions you have.