Health Care

Medigap vs. Medicare Advantage Plans

Published by Hailey Ploski

Medicare is a complex and intricate insurance enterprise, and it’s easy to see how patients can get confused. Medicare has four parts: A, B, C and D. Sound simple enough? Things get more complex when you start to consider Medigap and Medicare Advantage plans. These are designed to cover the things that parts A, B and D don’t cover, like deductibles and copays. Part C, or Medicare Advantage plans, along with Medigap plans can bridge the gap between what Medicare covers and what you can afford to pay.

Medigap Plans

Medicare Supplement Insurance is known as Medigap, and it helps patients who have Medicare plans cover some of the additional costs they might be asked to cover. Medigap charges a premium on top of what that customer is already paying for Medicare Parts A, B and D. Medigap plans can vary a great deal in terms of how much they cost and what they cover. We can assist you in finding the right Medigap plan to meet your needs and minimize your out-of-pocket expenses.

Medicare Advantage Plans

Medicare Advantage Plans are also known as Medicare Part C, and they are typically more affordable than the cost of Medicare and Medigap plans purchased together. Medicare Advantage plans allow a patient to enroll in Medicare through a private insurer. They are very similar to typical private insurance plans, and depending on what you select you could have a yearly limit on out-of-pocket expenses or HMO or PPO network plans.

Medigap vs. Medicare Advantage

What are the key differences you should consider when weighing your options? First, it is illegal for a company to sell you both a Medigap and Medicare Advantage policy—you can only choose one of the other. The three key factors you should consider include:

  • Cost: Medigap plans typically have a higher monthly premium but often result in lower out-of-pocket expenses. In contrast, Medicare Advantage plans often are less expensive and cover more services.
  • Selection: Most Medicare Advantage plans limit the doctors and facilities that you can see to that HMO or PPO. Medigap policies will cover you as long as you are visiting a doctor who accepts Medicare.
  • Lifestyle: Medicare Advantage plans can be regional, which means that if you travel a lot or have a vacation home, they are less convenient.

Understanding Medicare Advantage Plans with Secure Benefits Alliance

Secure Benefits Alliance is proud to be Medicare problem-solvers for thousands of patients throughout the greater Baltimore area. There is no cost to use our services and take advantage of our wealth of Medicare knowledge. To have your Medicare or health insurance questions answered by our knowledgeable team, contact Secure Benefits Alliance today by calling 443-912-5467 (TTY: 711).