Medicare Supplement vs Medicare Advantage Plan: What’s the Difference?

Enrollment in Medicare Advantage has almost doubled over the past decade. It has grown significantly as some people prefer it over a Medicare Supplement plan. Knowing the difference between the two can help you decide which one is right for you.

Read on to learn about Medicare Supplement vs. Medicare Advantage Plan.

Medicare Supplement vs. Medicare Advantage Plan

Original Medicare, Part A, and B cover a lot of health expenses, but not everything. Medicare Supplement insurance plans can help pay for costs that Original Medicare does not offer.

These plans don’t have coverage of their own. This means you need to be enrolled in Part A and Part B with Original Medicare too.

With a Medicare Supplement insurance plan, your healthcare bills get covered. The Medigap plan will cover cost-sharing charges like deductibles and copayments. This plan can also cover excess charges or emergency medical coverage.

It is important to note that Medicare Supplement insurance plans cannot be with Medicare Advantage plans? So what is a Medicare Advantage plan? In short terms, they are an alternative to Orginal Medicare.

Being enrolled in a Medicare Advantage plan means you are still in the Medicare program. Instead of getting your benefits through the federally administered program, you get benefits through the Medicare Advantage plan.

Certain factors you need to enroll in a Medicare Advantage plan include having Original Medicare, Part A, and Part B. You must also live in an area where you are considering the Medicare Advantage plan. Another specific factor includes not having end-stage renal disease, although there are some exceptions.

Medicare Supplement Insurance Benefits

One benefit of Medicare Supplement insurance plans is the number of plans available. In most states, there are 10 Medigap insurance plans to choose from. These plans tend to cover out-of-pocket costs that Original Medicare won’t cover.

However, these plans do not include prescription drug benefits. If you need prescription drug coverage, you may need to consider buying a separate plan.

Medicare Advantage Insurance Benefits

AARP Medicare Advantage plans and AETNA Medicare Advantage plans have great benefits for those who enroll in them. Because this plan is with a private insurance company, there is more flexibility. This means you can find the perfect Medicare Advantage plan in 2020 by comparing the different plan options.

These plans work beyond Original Medicare. Because of this, you can enjoy other routine coverages like hearing, vision and dental, and health wellness programs. With Original Medicare, you have to pay for these things with your own money.

A lot of the best Medicare Advantage plans will cover prescription drugs. Instead of buying a separate plan, you will have all of your necessary benefits with a single plan.

Get a Plan That Is Right For You

Knowing the difference between a Medicare Supplement and Medicare Advantage Plan is the first step to finding the plan that is right for you. Each plan type has options that can help you with your healthcare needs. Be sure you know all of the options before making a decision.

If you need someone to help you, please let us know. We would be glad to help.

Originally published at https://gotonextgen.com on December 31, 2020.