Medigap vs. Medicare Advantage - Compass Insurance Advisors
  • Estimated reading time: 3 minutes

    Choosing the Right Plan

    When enrolling in Medicare, you have choices to enhance your plan. You can keep original Medicare, add a Medicare Supplement, or enroll in a Medicare Advantage plan.

    Original Medicare has no max out of pocket limits. So if you have a $100,000 medical bill, you may pay up to 20% or around $20,000. For this reason, most people will enroll in a Medicare Supplement or Medicare Advantage plan.

    • Original Medicare + prescription 
      • (Parts A & B) + D
    • Original Medicare + Medicare Supplement/Medigap + prescription 
      • (Parts A & B) + Supplement + D
    • Medicare Advantage 
      • (Part C) 

    Medicare Supplements vs. Medicare Advantage Plans

    Along with original Medicare, you have the option to add a Medicare Supplement Plan or Medicare Advantage plan. Medicare Supplements (also known as Medigap) are typically very comprehensive coverage. If you enroll when you first turn 65 there is no underwriting required, so you will be accepted onto the plan regardless of your health status. Medicare Supplements are an especially good fit if you encounter high medical costs and if you spend more than $150 a month on doctors visits.

    With a Medicare Advantage plan, the premiums start as low as $0. You will still have to pay your Part B premium. An Advantage plan will typically give you a maximum out of pocket limit, and has no deductible. With the extra coverage of an Advantage plan, you will simply pay small copays and coinsurance (For example, $5 to see a primary care physician or $15 to see a specialist). Once all your copays and coinsurance payments equal your max out of pocket, any qualified medical expenses will be covered 100%.

      Medicare Supplement Medicare Advantage
    Cost: $100/month $0/month
    Deductible: $198/year $0/year
    Co-Payments: No Yes
    Co-Insurance: No Yes
    Network:  No Yes
    Includes Prescription Drug Coverage: No Yes

    ** Bonus Tip: Medicare Advantage plans can be paired with a hospital indemnity plan to cover the major copayments and coinsurance required on an Advantage plan. Hospital indemnity plans pay you cash benefits in the case of hospitalizations, outpatient stays, long-term care and more. Medicare Advantage plans paired with a hospital indemnity plan can provide very comprehensive coverage and are still less expensive than a Medicare Supplement. If you are interested in getting a quote and comparing your options with Medicare Supplements/Medigap, Medicare Advantage plans, or a hospital indemnity plan, call or schedule an appointment to talk to one of our local Medicare advisors today! **

    Choose Your Health Insurance Program Wisely

    Deciding which plan is right for you can depend on a number of factors. Schedule a time to talk to one of our advisors today, and they can help explain all of your options. We can show you the Medicare Advantage plans available in your area, and compare Medicare Supplement plans. Our agents are trained to educate, so you can make the best decision for your situation.

    Are you looking to sign up for Medicare at the comfort of your home? Contact us today! Are agents available to do an online screen share appointment, and process your application online. Our local advisors are also available to meet in person in our office or at your home.

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