Medicare Supplement vs. Medicare Advantage

What everyone needs to know: Medigap vs Medicare Advantage
One of the major decisions that Medicare beneficiaries face is whether to enroll in a Medicare Advantage plan or a Medigap policy. Both have their own pros and cons, so it’s important to understand the differences. We get asked often, Medigap vs Medicare Advantage, which is better?

If you like the idea of an “all-in-one” plan and don’t mind using a network of providers, then Medicare Advantage is a great option. However, if you have a want more freedom in choosing your doctors, then Medigap is usually the better choice.

Ultimately, it’s important to compare both options carefully before deciding. To help make heads or tails, be sure to speak with a licensed insurance agent at Senior HealthCare Solutions. Call today, 866-633-4427.


What is Medigap
Medigap Plans are also referred to as Medicare Supplement Plans. Medigap coverage acts as secondary insurance to Original Medicare Part A and Medicare Part B. In other words, you have two insurance cards when you go to the doctor or hospital (your red, white, and blue Medicare card along with your Medigap Plan ID card).

Medicare Supplemental Plans have no network and require no referrals to see a specialist. As of 2021, there are over 1 million providers participating in Medicare.

What is Medicare Advantage
Medicare Advantage Plans are also known as Medicare Part C, Medicare Replacement Plans, MAPD, Medicare Complete and our personal favorite, the “all-in-one” plans.

One difference between Medicare Advantage and Medicare Supplement is that your Medicare Advantage coverage will act as your primary and secondary payer (whereas with a Medicare Supplement, Original Medicare is primary and the Medicare Supplemental Plan in secondary).

In this case, you only must present one insurance ID card, not two. In short, your MAPD plan will “Replace” Medicare while the Advantage plan handles your health care needs and medical services.

Types of Medicare Advantage Plans
The two most common Medicare Advantage types of plans are HMOs and PPOs.

HMO is short for Health Maintenance Organization and PPO stands for Preferred Provider Organization. HMO Medicare plans are known for having extra benefits, small networks and may require referrals. PPO Medicare plans have great benefits, larger networks and do not require referrals.

Medicare Advantage Benefits
Medicare Advantage plans are designed to cover, at minimum what Medicare covers and, in most cases, they provide additional coverage. These extra benefits include, but not limited to:

Prescription Coverage
Give back benefits (Part B reimbursement)
Flex Card
Over the counter credits
Gym membership (Free and discounted)
Transportation
Dental, Vision, Hearing and much more!
Medicare Advantage Plans are not standardized. Plan availability, pricing and coverage will vary by the zip code and county you live in.

Sometimes, we see more than 50 Medicare Advantage Plans in one county…how can you ever sort through them all? Easy. Call us today, 866-633-4427 and allow one of our licensed insurance agents to do the hard work for you.

8 questions I need to know before choosing a Medicare plan: Medicare Advantage vs Medigap
Can I choose my own doctor and hospital?
Is there a network?
Am I required to get a referral?
Do I pay a monthly premium?
What are my out-of-pocket costs?
Is drug coverage included?
Is dental, vision or hearing included?
When can I enroll?


Medicare Resources:
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Comparison: Medicare Supplement vs Medicare Advantage:
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3 Key Differences:
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Compare Medicare Supplement Plans:
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Compare Medicare Advantage Plans:
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0:00 Introduction
0:16 Who is Medicare with Melissa?
0:46 Basics: Medicare Supplement vs Medicare Advantage
1:52 Medicare Supplement Plans Coverage and Cost
3:10 Medicare Advantage Coverage and Cost
4:25 Key Comparison: Medicare Supplement vs Medicare Advantage
5:50 Verdict: Which Medicare Plan Is Better?
6:44 Enrolling in a Medicare Plan
7:12 Key Takeaways (Write This Down)!