If you are turning 65 or are already enrolled in Medicare, you may have heard about Medicare Advantage and Supplemental plans. These plans can offer additional coverage beyond what Original Medicare provides, but they can also be confusing. In this post, we will explain what these plans are and how they can benefit you.
What is Medicare Advantage?
Medicare Advantage plans, also known as Medicare Part C, are offered by private insurance companies approved by Medicare. These plans provide all the coverage that Original Medicare provides, but can also offer additional benefits such as vision, dental, and hearing coverage. Many Medicare Advantage plans also include prescription drug coverage, which can save you money on your medications.
What are Supplemental Plans?
Supplemental plans, also known as Medigap, are also offered by private insurance companies approved by Medicare. These plans are designed to fill in the gaps in coverage that Original Medicare does not cover, such as deductibles, coinsurance, and copayments. There are several different Medigap plans to choose from, each offering a different level of coverage.
How can Medicare Advantage and Supplemental Plans benefit you?
Medicare Advantage and Supplemental plans can offer a variety of benefits, depending on your individual needs. If you are looking for additional coverage beyond what Original Medicare provides, a Medicare Advantage plan may be a good option. These plans can offer additional benefits that can help you save money on healthcare expenses.
If you are looking for more comprehensive coverage that fills in the gaps in Original Medicare coverage, a Medigap plan may be a good option. These plans can help you avoid unexpected expenses and can provide you with more predictable healthcare costs.