3 Differences Between Medicare Advantage and Medicare Supplemental Insurance

​Medicare policies can be quite confusing, especially for those that are new to the insurance enterprise. Medicare Advantage and Medicare Supplemental Insurance, or more commonly known as Medigap, are quite similar that people confuse them as the same. However, there are key differences that you must be aware of before signing either policy.

Costs
With Medicare Supplemental Insurance, you might be required to pay for a higher premium every month. This will mean that Medicare will cover the majority of your hospital bill. You will only have to pay for a relatively small amount of out-of-pocket expenses. On the other hand, Medicare Advantage has a lower premium rate and broader coverage of services. If you are on a budget, it might be a better choice for you.

Choices
If you choose one from the Medicare Advantage plans, you are limited to the facilities and doctors that are included in the agreement. Depending on your contract, out-of-network care may not be permitted or covered. Most Medigap and Medicare policies can help you with your bills as long as your hospital or doctor accepts Medicare. If you have a particular hospital for your specific condition, you can check whether or not they are covered in your selected plan.

Lifestyle
Unlike Medicare Advantage plans, Medigap policies can be flexible. Medicare Advantage plan is only limited to operate in a particular area, whereas Medigap can help you with your medical needs even when you are traveling outside the country. If you reside in more than two states in a year, you should get Medicare accompanied with a Medigap plan. The combination can also work together if you are traveling to different places. It can even have coverage across all the 50 states in the country. You may find a hard time figuring out which Advantage plan will help you with such geographical coverage.

Before buying an insurance plan for your health, it is essential to know the differences between them. One can provide you more coverage for cheaper prices but others might give you more flexible choices. If you are confused with all the differences between the policies, you can ask an agent to help you differentiate them so that you can pick out the best one for you.

At Alliance Health Group, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (813) 501-4006. You can also request a free quote by CLICKING HERE.