Medicare Supplements vs. Medicare Advantage

Original Medicare leaves behind some gaps in coverage making policies like Medicare Supplements and Medicare Advantage necessary. But which plan is the best? 

The answer will come down to personal preference. Medicare Supplements (also known as Medigap) provide more coverage, but have a higher premium. Medicare Advantage doesn’t have as much coverage as Medigap but does bundle prescription drug coverage (Part D) in a convenient all-in-one plan. 

Let’s discuss both of these plans in more detail so you can make an informed decision on your Medicare coverage

Medicare Supplements

There are 10 Medigap plans currently available in most states each designated by a different letter. Coverage is standardized, so the only difference between plans offered by different carriers is the premium. 

Medicare Supplements cover the out-of-pocket costs not covered by Original Medicare like copays, coinsurance, and deductibles. Each plan will cover a different percentage of each of these costs for a different premium. 

A licensed Medicare agent, like the ones at Expert Insurance Team, can take a look at your needs and show you your options to make sure you’re getting the right blend of coverage while also staying in your budget. 

Medicare Advantage plans

Medicare Advantage plans offer coverage similar to Original Medicare but give you additional benefits like dental, hearing, vision, health and wellness programs, and even prescription drug benefits. Sometimes these plans can come at no additional cost to you. 

Also known as Medicare Part C, Advantage plans combine everything into one convenient plan. But they do still leave behind some of the gaps in coverage that a Medicare Supplement plan would pick up. 

Which plan is right for me? 

If you’re looking for the most amount of coverage, a Medigap plan is going to be your best bet. If you’re looking for just a small increase in coverage and the possibility of not paying any extra premium, a Medicare Advantage plan may be right for you.

Still not sure what you need? A licensed Medicare agent with Expert Insurance Team can help by looking at your healthcare needs and provide a quote! 

So, whether it’s Medicare Supplements or Medicare Advantage plans you are looking for, be sure to ask for our FREE Medicare Strategy Session!