Comparing Medigap/Medicare Supplement & Medicare Advantage Plans
Once you have enrolled in Medicare Part A & Part B, you have some decisions to make. First of all, you do not have to take any other parts to Medicare. You can keep just Original Medicare—Parts A & B and get no other coverage if you so decide. Just know that you will be responsible for co-pays and co-insurance that can get quite expensive.
First, you have to decide how much you are willing to pay for insurance coverage. There are pros and cons to all plans. A Medicare Supplement or Medigap Plan typically ranges in monthly premiums from $100 and up. Depending on your age, it can range as high as $300 to $400 per month. Typically, with a Medicare Supplement or Medigap plan, you can know in advance how much your deductibles and co-pays will be and that can be very convenient.
Secondly, to be fair, Medicare Advantage Plans have generally a much less expensive option. Some plans are as low as zero $0.00 premium payment each month. With this option, your co-pays to go to a specialist can be as high as $50 or more depending on the plan you choose and available in your county.
Medicare Advantage plans are designed with a network of doctors and providers in mind. If you stay within the plan’s provider network, the charges can be very low or have minimum costs. In addition, most Medicare Advantage plans offer benefits that Medicare Supplement or Medigap plans do not have such as; Dental benefits, Vision benefits, Hearing benefits, Over The Counter non-prescription benefits, Drug Plans (Part D), and many more depending on the individual plan. This is the reason we recommend using a Licensed Agent to assist you with your available choices.
Keynote To Remember
If you have noticed that we have not given you specific details on the plan that is right for your needs. A generic website such as https://answersaboutmedicare.com can not or more specifically should not determine what is correct for your needs. Only a properly licensed agent can give you that specific advice.