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What is the Difference Between a Medicare Advantage Plan and a Medicare Supplement Plan?
The Medicare Advantage Plan and the Medicare Supplement Plan are different types of Medicare coverage. You cannot carry both plans at the same time. Medicare Advantage Plan is made up of bundling Part A and Part B usually with Part D and another type of coverage. Medicare Supplement Plan is coverage you can buy if you have Medicare Part A and Part B.
Medicare Advantage Plan, also referred to as Part C or MA Plan. This plan combines Part A, Part B and usually Part D all into one plan. This covers al Medicare services, and usually vision, hearing and dental. The Medicare Advantage Plan is offered by private companies that Medicare has already approved. Just remember with Medicare Advantage Plan, you have a specific network of doctors and health care providers that you can see. This plan also has yearly limits for out-of-pocket costs. Once you reach this limit, you won’t pay for any covered services.
Medicare Supplement Insurance is also known as Medigap. It is private health insurance that adds on to Original Medicare, Part A and Part B. It helps pay some costs of the Medicare expenses that Original Medicare doesn’t cover. Medicare Supplement Plan helps pay copays, co-insurance and deductibles….Plus, out-of-pocket costs for hospitalization, doctor’s visits, home health care, lab work, medical equipment and more! There are many Medicare Supplement Plans and they differ in coverage and costs.
To find out more about Medicare Supplement Plan, Call Advanced Insurance Concepts today and Jim Rooney will work with you to find the answer. Advanced Insurance Concepts works with a variety of insurance companies and all Medicare Advantage providers in Missouri and Kansas. He is licensed to sell Health, Life and Accident Insurance, so call Jim Rooney for all your insurance needs.
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