What Do You Need To Know About Medicare Advantage Plans, Medicare Supplements?
Medicare Advantage plans and Medicare Supplement (Medigap) policies are two very different ways to enhance your Medicare coverage, and understanding them is essential for making the right choice. Bixler Insurance provides medicare advantage plans and medicare supplements in Berne, IN, Geneva, IN, Decatur, IN, Portland, IN, New Haven, IN, Bluffton, IN, Fort Wayne, IN and surrounding areas.
Medicare Advantage (Part C) plans are offered by private insurance companies approved by Medicare. They combine your Part A (hospital) and Part B (medical) benefits, and many also include Part D prescription drug coverage. Advantage plans often feature extra benefits not included in Original Medicare, such as dental, vision, hearing, fitness programs, and even transportation. Costs typically include a monthly premium (sometimes $0), copayments, and coinsurance. You must use the plan’s network of doctors and hospitals, which may be local or regional. In return, out-of-pocket costs are capped annually, something Original Medicare does not provide. The trade-off is less flexibility in choosing providers, and costs can vary depending on how much care you use.
Medicare Supplement (Medigap) policies, on the other hand, work alongside Original Medicare. They help cover “gaps” like deductibles, copayments, and coinsurance. Medigap policies do not include prescription drug coverage, so you would need a standalone Part D plan for medications. Unlike Advantage plans, Medigap policies generally allow you to see any doctor or hospital nationwide that accepts Medicare. Monthly premiums are usually higher than Advantage plans, but out-of-pocket costs when you receive care are lower and more predictable.
Key differences to know:
Provider access: Advantage = network restrictions; Supplement = nationwide flexibility.
Costs: Advantage = lower premiums, variable copays; Supplement = higher premiums, fewer bills when receiving care.
Extra benefits: Advantage plans may cover dental/vision/hearing; Supplements do not.
Prescription drugs: Often included with Advantage; require a separate plan with Supplement.
Out-of-pocket limits: Advantage has a yearly maximum; Supplement reduces most costs but has no official cap.
Choosing between them depends on your health needs, budget, and how important provider flexibility is to you. Call us anytime if you need more information.