Medicare supplement and Medicare Advantage. What’s the difference? Do I need both? What is the difference in Medigap and Medicare supplement? Do Advantage plans have more advantages? Can I change plans every year during open enrollment?
Which plan is better? Should I have an Advantage plan or Medigap?
That is a question only YOU can answer. Consider the differences and then decide which plan fits your needs and budget.
Are you turning 65? Do you need help navigating the Medicare maze?
Call us. We can help.
Table of Contents
Medicare supplement and Medicare Advantage
What is the difference?
Do I need both a Medicare supplement plan and an Advantage plan?
Nope. Even if you wanted both, Medicare says you can’t have both.
So pick one or the other.
What is the difference in Medicare supplement and Medicare Advantage?
Medicare supplement plans work with original Medicare.
- No networks
- Use any doctor, lab or hospital anywhere in the U.S.
- Referrals not necessary to see a specialist
- Keep your current doctor(s)
- Your doctor cannot be dropped from the plan mid year
- You can keep your plan every year.
- Annual review not needed (for your supplement plan)
- Out of pocket is clearly outlined and can be budgeted
- Pick a drug plan that covers the drugs you need
Is Medicare Advantage Better?
you are limited in most cases to docs and hospitals in the network
the Rx is often paired with the plan and may not include the meds you need
your doctor can be drop out of the plan at any time
you may have to change your plan every year
you have to review the plan every year (participating network providers, meds, cost of health care, etc)
your out of pocket for in network only claims is almost always higher than Medigap
your out of pocket cap averages $6,700 (most 2018 plans) + out of network claims + Rx copay’s
you can find yourself out of network and incur penalties any time, anywhere