MEDICARE

Medicare Advantage vs. Medicare Supplement

There are two options commonly used to replace or supplement Original Medicare One option, called Medicare Advantage plans, are an alternative way to get Original Medicare. The other option, Medicare Supplement (or Medigap) insurance plans work alongside your Original Medicare coverage. These plans have significant differences when it comes to costs, benefits, and how they work.

MEDICARE ADVANTAGE
There are several different types of Medicare Advantage plans and availability of plans is determined by the county in which you reside. The most important thing to keep in mind when selecting a Medicare Advantage Plan is, “Do my doctors, specialists and hospital accept this plan of insurance”. Many people are hesitant to change to a physician who accepts the plan and so it is important to perform due diligence and verify with all physicians and hospitals that they indeed accept the insurance plan you have chosen for coverage

MEDICARE SUPPLEMENTS(MEDIGAP)
There are also several types of Medicare Supplements (Medigap policies) The most popular being Plan G and Plan N. Plan G covers most everything. The only exception is that with Plan G, once each year you must meet the annual Medicare deductible which is currently $226.00. After you’ve met this amount, you are covered at 100%. Plan N, the least expensive plan, requires you to pay the annual Medicare deductible but also requires a co-pay at the doctor and specialist’s office of no more than $20.00