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Difference Between Medicare Medigap and Medicare Advantage Plans. 

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Difference between Medicare Medigap and Medicare Advantage Plan. You first need to understand what Medicare Covers.

Get Online quotes for 2024 at Medicare Insurance Plans. For a private conversation about your particular needs, please get in touch with us.

Medicare is a government-sponsored and administered medical plan for people over 65 years of age and people with certain disabilities. It offers two Parts, which are:

Part A helps with hospitalization. There are deductibles and copays, you can find these costs at Welch Insurance Part A which helps to pay for:

  • In-patient care in the hospital
    • Semi-private rooms
    • Meals
    • General Nursing
    • Drugs (including methadone to treat an opioid use disorder)
    • Other hospital services and supplies as part of your inpatient treatment.
  • Skilled nursing facility
  • Hospice care
  • Home Health Care
  • Covers medication in hospital.

Part B helps pay for outpatient services. You can find your cost at Welch Insurance Part B which helps pay for:

  • Medically necessary services: Services or supplies that are needed to diagnose or treat your medical condition and that meet accepted standards of medical practice.
  • Preventive services: Health care to prevent illness (like the flu) or detect it at an early stage, when treatment is most likely to work best.

Some of the things covered by Medicare Part B           

Limited outpatient prescription drugs

Medigap Plans

Medigap also called Medicare Supplement Plans which are sold by independent insurance companies, help cover your cost of Medicare Part A and Part B however you do need to get a separate Part D drug plan. If you or your spouse has paid into Medicare through Social Security for 10 or more years you will not have a premium. There are typically 10 plans available in most states. Each plan is designated by a letter A through N. Each plan with the same letter must give the same coverage, however, there can be as much as over $100 a month premium difference between companies.

Medicare Advantage Plan

Medicare Advantage Plans which are sold by independent insurance companies, can have a monthly premium as low as $0 amount. They replace the benefits of Medicare Part A and Part B, and may offer additional benefits coverage such as:

  • Medical with a maximum out of pocket
  • May included Part D drug plan.
  • May included additional benefits such as:
    • Vision
    • Dental
    • Over the counter Items
    • Fitness programs
    • And more

There are six types of Medicare Advantage Plans.

HMO (Health Maintenance Organization)

PPO (Preferred Provider Organization)

PFFS (Private Fee For Service)

SNP (Special Needs Plans)

MSA (Medical Saving Account)

HMO-POS (HMO-Point of Service)

Get On-line quotes for 2023 at Medicare insurance Plans. For a private conversation about your particular needs, please contact us.

Conclusion:

Deciding between a Medigap plan and a Medicare Advantage plan is an important decision and one you should take the time to research. Medigap plans are standardized, regardless of the company they must give the same coverage but can have different monthly premiums between companies. Medicare Advantage plans are private health insurance plans that give different coverage and have a network of providers you must stay in. You should think about your budget and your needs.

Medicare Education Events

Would you like to learn about Medicare and your options? We offer Medicare Education Events for Huntington Beach, Fountain Valley, Costa Mesa, and Westminster. To learn more, tap on the Medicare Education Event. This is not a sales event, it is a workshop with dinner to learn about Medicare and your options. We are sure this information will help.

Medicare Insurance Plans.

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