Medigap vs Medicare Advantage
Medigap (Medicare Supplement Insurance):
Coverage: Medigap policies are designed to cover out-of-pocket costs not covered by Original Medicare (Parts A and B), such as deductibles, copayments, and coinsurance
Flexibility: You can see any doctor or specialist who accepts Medicare, without needing referrals
Standardization: Medigap plans are standardized and regulated by the federal government, ensuring consistent coverage across different insurers
Travel: Some Medigap plans offer coverage for medical care when traveling outside the United States
Medicare Advantage (Part C):
Comprehensive Coverage: Medicare Advantage plans provide all the benefits of Original Medicare, plus additional perks like dental, vision, and hearing coverage
Prescription Drugs: Many Medicare Advantage plans include Part D prescription drug coverage
Cost: These plans often have lower out-of-pocket costs compared to Original Medicare, and some plans have $0 premiums
Convenience: Medicare Advantage plans often operate as a one-stop-shop, bundling various types of coverage into a single plan
Choosing between Medigap and Medicare Advantage depends on your specific healthcare needs and preferences. If you value flexibility and travel frequently, Medigap might be the better option. On the other hand, if you prefer comprehensive coverage with additional benefits, Medicare Advantage could be more suitable.
