Regardless of the type of plan that you are shopping for, My Medigap Plans can help you compare Aetna, Cigna, Florida Blue, Mutual of Omaha, and more. At My Medigap Plans, we have done all of the hard work for you, and we have compiled information from all of the best companies out there. If you are looking for a fast and easy way to compare the rates and benefits of different plans, select your state from the drop-down menu. Then, you can find out more about your options, you can begin answering health questions, and you can start looking for the right plan for you. If you do, you’ll find that getting quotes and starting the enrollment process will be a breeze. In no time, you will have the additional coverage that you need to help take care of all of your medical-related expenses.
What are Medigap Plans?
If you have Original Medicare Part A and B, you’re already aware of how expensive copays and deductibles can be. Even though Medicare covers a variety of things, there are always uncovered medical expenses. That’s where Medicare supplemental plans come in to help pay for those additional costs. These plans act as private insurance to cover the areas that aren’t included in standard Medicare coverage.
What is the Difference Between Medicare Supplement & Medicare Advantage?
If you’re looking for supplemental insurance, you probably noticed that you have two choices: Medicare Advantage and Medicare Supplement. You might not be sure which is the best choice for you, so it’s important to learn more about the differences between the two plans.
- Medicare Supplement Insurance – With a Medicare Supplement plan, you still maintain your original Medicare plan. However, you will have additional insurance coverage, which will cover extra deductibles, copayments, and other medical expenses. For example, Medicare might cover 80% of the costs, and your supplemental insurance plan might cover the 20% that you would otherwise have to pay.
- Medicare Advantage Insurance – When you switch to a Medicare Advantage plan, you transition completely to private insurance. Although your private insurance company will still cover all of the ordinary things that Medicare covers, it covers additional costs as well. This is very similar to having original Medicare and an additional supplemental plan, but it’s handled a little bit differently.
Which Option is a Better Choice?
Both Medicare Advantage and Medicare Supplement insurance plans can be a great choice. With Medicare Supplement plan F or Medigap plan G, you can see pretty much any doctor that you want; with Medicare Advantage, however, you will generally be restricted to a certain network. Medicare Supplement plans generally don’t change as frequently; all you can expect is minor rate changes every now and then. Another good thing about a Medicare Supplement plan is the fact that you can purchase additional plans to get all of the coverage that you need; for example, you can invest in a Medicare Part D plan to help pay for your medication, or you can opt for other additional coverage to cover hearing, vision or dental. However, you might find that Medicare Advantage is a simpler plan that covers everything under one policy. By comparing the prices of different types of plans and learning a little more about what each plan offers, you can make the right decision for you.