Medicare Advantage vs. Supplement: Making the Right Choice
Understanding the difference between Medicare Advantage and Medicare Supplement (Medigap) plans is crucial for choosing the right coverage for your healthcare needs.
Both options help cover costs that Original Medicare doesn't pay, but they work very differently. Medicare Advantage replaces Original Medicare, while Medigap supplements it.
Medicare Advantage Plans
Medicare Advantage (Part C) plans are offered by private insurance companies and replace Original Medicare. These plans often include prescription drug coverage and additional benefits like dental, vision, and hearing.
Pros:
- Often includes prescription drug coverage
- Additional benefits (dental, vision, hearing)
- May have lower premiums
- Out-of-pocket maximum protection
Cons:
- Network restrictions
- May need referrals for specialists
- Coverage varies by plan
- May have higher out-of-pocket costs
Medicare Supplement (Medigap) Plans
Medigap plans supplement Original Medicare by covering costs like deductibles, copayments, and coinsurance. You can see any doctor who accepts Medicare.
Pros:
- No network restrictions
- Predictable costs
- Works with any doctor who accepts Medicare
- No referrals needed
Cons:
- Higher premiums
- Doesn't include prescription drug coverage
- No additional benefits
- Separate Part D plan needed
Get Expert Help
Choosing between Medicare Advantage and Medigap depends on your healthcare needs, budget, and preferences. A licensed Medicare agent can help you compare plans and find the best fit for your situation.