What Is the Difference Between Medicare Supplement and Medicare Advantage Plans?

Medicare supplement and Medicare advantage plans offer different types of coverage and knowing which plan is best for you can be confusing. If you are looking into medicare insurance, navigating the different plans and processes can be challenging. You want to work with the best-rated medicare brokers in South Florida. Medicare Sharks can help you navigate the process of gaining Medicare insurance. In today’s post, we will discuss the difference between Medicare Supplement and Medicare Advantage plans. Read on to learn more and contact Medicare Sharks for help signing up for Medicare insurance.

Medicare Advantage Plans 

Medicare Advantage Plans offer comprehensive coverage by combining Medicare A and B. It may also include Medicare Part D for prescription coverage. Like most insurance policies, your costs will be lower if you choose an in-network provider.

Medicare Supplement Plans 

Also called Medigap, Medicare Supplement Plans are designed to help pay the out-of-pocket expenses not covered by Medicare Parts A and B. It is additional coverage to the government’s Medicare program though it is not part of the government’s Medicare program. The amount of coverage you get depends on the policy you choose.

Is It Possible to Have a Medicare Advantage Plan and a Medicare Supplement Plan at the Same Time?

You cannot have both a Medicare Advantage Plan and a Medicare Supplement Plan at the same time. The two plans offer different types of coverage. A Medicare Advantage Plan typically bundles Parts A and B with Part D and other types of coverage. A Medicare Supplement Plan is bought in addition to Medicare Parts A and B.

Which Is Better? 

Which Medicare Insurance plan is better depends on your insurance needs. Consider whether you prefer all your coverage to be rolled into one plan as well as whether you want financial protection from unexpected costs. You may also consider how much freedom you want to choose your doctor and whether you need disability coverage when considering what kind of medicare insurance you need.

Medicare insurance is a confusing thing to navigate. If you want to work with some of the best-rated medicare brokers in South Florida, you can get in touch with Medicare Sharks today. We will teach you how to sign up for medicare and help you pick the best plan for you. Contact us today!