![]() ![]() It pays to shop around to find the best price. Medigap policies are standardized and must follow federal and state laws to offer the same basic benefits. Insurance companies often charge different premiums for the same Medicare Supplemental insurance policy. However, many Advantage plans require you to see “in-network” doctors and may not cover out-of-network care. You pay one company for your insurance and many Advantage Plans include extra benefits like dental, vision and prescription drug coverage. Medicare Advantage is more like insurance that you had during your working years. With a Medigap policy, you’ll have multiple insurance policies and insurance cards for your care, but you can see any doctor that accepts Medicare. Advantage Plans also help pay uncovered medical expenses that Original Medicare doesn’t. By comparison, Medicare Advantage policies are an alternative to Original Medicare and offer different levels of benefits that Medigap policies do not. ![]() Medigap policies take care of the unpaid costs of Original Medicare. No, these are two different options that seniors have for their healthcare needs. However, some services are excluded from these policies, including: Medicare supplemental insurance provides additional benefits and reduces your out-of-pocket expense for covered services. When a plan does not include prescription drug coverage, then you can buy a standalone Medicare Part D insurance policy. Some Medigap policies include prescription drug benefits as part of their plan. Medicare Supplemental Insurance Exclusions Traditional Medicare policies (Part A and Part B) do not cover international medical care. Additionally, some Medigap policies cover medical care when you travel outside the U.S. Medigap insurance policies help pay for co-payments, co-insurance amounts and deductibles. ![]() Medicare supplemental insurance (aka Medigap insurance) fills in these gaps to help pay for some of the remaining health care costs. Unfortunately, these policies do not pay for all of the costs of covered medical services and supplies. Original Medicare insurance policies are offered by the government to provide medical insurance for senior citizens through Part A and Part B policies. Supplement insurance policies offer a predictable monthly expense versus the unknown cost of visiting a doctor or going into the hospital. These policies are offered by private insurance companies and are on top of your Part A and Part B benefits. Medicare supplemental insurance plans cover the costs that you’re responsible for with Original Medicare. ![]()
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