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July 31, 2023

Medicare Advantage (MA) and Medicare Supplement (Medigap) plans provide additional coverage to traditional Medicare. While both provide additional benefits, they differ in several ways. The main differences include:

  • Plan Structure: Medicare Advantage plans are offered through private insurance companies and provide bundled benefits similar to employer-sponsored health plans. They often include dental, vision, and prescription drug benefits. In contrast, Medigap plans are supplemental insurance policies that pay for some or all of the out-of-pocket costs associated with traditional Medicare.
  • Provider Network: Medicare Advantage plans require beneficiaries to use a network of providers and may require prior authorization for certain services. In contrast, Medigap plans do not have provider networks and allow beneficiaries to receive care from any provider that accepts Medicare.
  • Cost: While MA plans may have lower monthly premiums, there are often high deductibles, co-pays, and co-insurance costs. Medigap plans typically have higher monthly premiums, but lower out-of-pocket costs.
  • Plan Flexibility: Unlike MA plans, Medigap plans provide more flexibility in choosing providers and offer guaranteed renewable coverage. This means that as long as premiums are paid, the policy may not be canceled by the insurance company.
  • It is recommended to seek assistance from a licensed agent to help you navigate the available choices and determine the plan that suits your specific needs. Call a licensed insurance agent at 1-833-265-9655.

The choice between a Medicare Advantage plan or a Medigap plan will depend on individual circumstances such as budget, healthcare needs, and preferred providers. It is important to review all available options and consult with a licensed insurance agent before making a decision. [1][2]

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