Understanding Medicare Advantage vs. Medicare Supplement Insurance

Choosing the right Medicare insurance plan can feel overwhelming. Should you go with a Medicare Advantage Plan or a Medicare Supplement Insurance Plan (also known as Medigap)? What’s the difference, and which one is best for your needs?

This guide will break down everything you need to know about Medicare Advantage and Medicare Supplement options so you can make an informed decision. Thinking of enrolling in a Medicare Advantage Plan? Call Green Insurance in Orange Park, FL at 904-717-1176 to explore your options!

What is Original Medicare?

Before comparing Medicare Advantage vs. Medicare Supplement Insurance, let’s start with the foundation—Original Medicare. This includes:

• Medicare Part A (Hospital Insurance) – Covers inpatient hospital stays, skilled nursing facilities, and hospice care.
• Medicare Part B (Medical Insurance) – Covers doctor visits, outpatient care, preventive services, and medical equipment.

Original Medicare coverage provides broad coverage, but it doesn’t cover everything. That’s where Medicare Advantage Plans and Medicare Supplement Insurance Plans come in.

What is a Medicare Advantage Plan?

A Medicare Advantage Plan (also called Medicare Part C) is an alternative to Original Medicare, offered by private insurance companies that contract with Medicare. These plans include Medicare Parts A and B and often Medicare Part D prescription drug coverage in a single bundled plan.

Medicare Advantage Plans Offer:

• Lower monthly premiums (sometimes even $0)
• Additional benefits, such as vision, dental, hearing, and wellness programs
• Medicare drug coverage included in many plans
• Fixed out-of-pocket costs with annual limits

Medicare Advantage Plans May Also Have:

• Restricted provider networks (HMO or PPO) requiring in-network doctors
• Copays and coinsurance for medical services
• Referral requirements for specialists

What is Medicare Supplement Insurance (Medigap)?

A Medicare Supplement Insurance Plan (also known as Medigap Insurance) is designed to work with Original Medicare by covering out-of-pocket costs such as:

• Deductibles
• Copayments
• Coinsurance

Benefits of a Medicare Supplement Plan:

• Freedom to see any doctor who accepts Medicare
• Covers costs not paid by Original Medicare, reducing your out-of-pocket expenses
• No network restrictions – use it anywhere in the U.S.
• Predictable costs to help with budgeting

Medigap Plans Do NOT Include:

• Medicare drug coverage (You’ll need to join a separate Medicare drug plan)
• Additional benefits like vision, dental, or hearing

Difference Between Medicare Advantage and Medicare Supplement Plans

Considering Medicare Advantage or Medigap? Call Green Insurance at 904-717-1176 for expert advice!

Choosing the Right Plan for You

Ask yourself:

• Do I prefer lower monthly premiums or fewer out-of-pocket expenses?
• Do I want nationwide flexibility in choosing doctors?
• Do I need extra benefits like dental or vision coverage?
• Do I take prescription medications and need drug coverage?

If you prefer lower premiums and bundled benefits, a Medicare Advantage Plan may be a good fit.

If you want more predictable costs and the freedom to choose any doctor, a Medicare Supplement Insurance Plan might be better.

When Can You Enroll or Switch Plans?

• Medicare Advantage Open Enrollment: January 1 – March 31
• Annual Enrollment Period: October 15 – December 7
• Medigap Enrollment: Best within six months of enrolling in Medicare Part B

Can You Switch from a Medicare Advantage Plan to Original Medicare?

Yes! You can switch from a Medicare Advantage Plan to Original Medicare plus Medigap during certain enrollment periods. However, Medigap coverage is not guaranteed unless you enroll during your initial six-month Medigap open enrollment period.

Get Expert Help with Your Medicare Plan

Navigating Medicare can be complicated, but you don’t have to do it alone. Green Insurance in Orange Park, FL (904-717-1176) can help you compare Medicare Advantage and Medicare Supplement Plans to find the best option for your healthcare and budget. Call today for personalized Medicare guidance!