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Compare Medicare Supplements And Medicare Advantage Plans

If you need to understand senior health insurance, it is very important to understand the difference between Medicare supplements and Medicare Advantage plans. The plans are both open to people who receive US Medicare benefits through Part A and Part B. The work quite differently though.

Part A and Part B are considered the "original plan". Most retired Americans qualify for coverage, though most qualified beneficiaries do pay a Part B premium to help underwrite the costs of some of the coverage. The plans are largely funded by taxes.

What Is The Gap?

Supplements are sometimes called Medigap plans. This is because Part A and Part B of the original Medicare plan cover a lot of basic health costs. They do not, however, pay for everything. Beneficiaries may also need to pay for a lot of out-of-pocket costs for health services that are covered. These costs may include deductibles and co-payments.
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So if you just have Part A and Part B, you may still have to pay a lot of your medical costs, and it can make it difficult to budget for health care. These uncovered services and out of pocket costs are called the "gap", and that is why the supplements are called Medigap plans.

To control these extra costs, many people choose to purchase a Medigap plan. This is a private health insurance plan from a private health insurance company.