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Medicare Supplement vs. Medicare Advantage

 

There are many differences between a Medicare Supplement (Medigap) and Medicare Advantage plans (MA). Take a look at the chart below for an outline of several main and distinctive differences between the two.

 

Medicare Supplement (Medigap)

Medicare Advantage (MA)

Ø  Supplement to Original Medicare

Ø  Underwriting guidelines (except for Guaranteed-Issues)

Ø  CAN NOT include Prescription Drug Coverage

Ø  All plans are the same for each carrier (ex: Plan F = Plan F)

Ø  Plans cover the same in all states

Ø  CAN NOT be turned down by doctors accepting Medicare

Ø  No contract

Ø  Can drop or change anytime (underwriting may apply)

Ø  Takes the place of Original Medicare

Ø  No underwriting

Ø  CAN include Prescription Drug Coverage

Ø  Plans vary depending on carriers

Ø  You may loose coverage if you move out of state

Ø  CAN be turned down by doctors accepting Medicare

Ø  Annual contract

Ø  Can only drop or change at certain times of the year

 

These are only a few of the many difference found between a Medicare Supplement and Medicare Advantage Plans. Know your options when it is time for you to enroll for the first time or if you are considering changing your current coverage.



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