How To Insurance | 014 | Medicare Supplements (Medigap) Vs Medicare Advantage Plans
Hi, I’m Peter!
Welcome to HOW TO INSURANCE
Helping YOU understand insurance, building CONFIDENCE for your future!
Today, we are talking about...
Medicare Supplements (Medigap)
Vs.
Medicare Advantage Plans
If someone offered to take you to lunch, but when the server brought the check they said “hey, I’ll only cover 80% of the bill and the rest is on you”...
Wait, what?!? That would be pretty lame and unexpected!
But that is exactly what Original Medicare does.
If you are 65yrs + and medicare eligible, be prepared for medicare to only cover 80% of your medical expense. Also, the 20% you have to pay has no limit! So, if you have a medical procedure that costs $100,000… I hope you have $20,000 in the bank to pay the rest of the bill. (and this is not an exaggeration, but a harsh reality)
This is why everyone should enroll in either a Medicare Supplement or Medicare Advantage plan! They will help cover those big medical bills!
Here are some basic differences between these two options:
Medicare Supplements (Medigap)
Costs more each month, but will cover more in general.
It gives you freedom to see doctors and specialists all over the country (if you travel)
You will need to also enroll in a separate prescription drug plan.
Medicare Advantage Plan
Costs less or even $0/month, but you may have to pay more out-of-pocket when you need medical attention.
It works like a traditional healthcare plan, HMO or PPO, and you must stay in-network and in the area of your plan.
It usually includes a prescription drug plan and some other benefits.
So...What is the difference between Medicare Supplements (Medigap) Vs Medicare Advantage Plans
Medicare Supplement: If you can afford the monthly premium, this could be a good choice for you! Plus, you can enroll in these anytime of the year!
Medicare Advantage: If want a low (or $0) cost monthly plan and you don’t mind being locked into a network of doctors, this is for you! However, you can only enroll during October 15-December 7!
Definitely don’t try to navigate this on your own!
Ask an insurance broker, like myself, to help you determine what the right plan is for you!
Here is a link to a fantastic article explaining even more in depth.
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Contact me at peter@appleinsurancesolutions.com
Also, keep in mind, that as Your Insurance Broker, I offer insurance for auto, home, life, health, medicare, umbrella and business… when you work with me, all your insurance needs... are in one relationship.
At Apple Insurance Solutions, we believe:
We all want to protect what matters most to us in life,
but finding the right insurance can be confusing.
So I make it simple.
As an Insurance Broker,
I do the work for you, saving you time, in order to
build confidence for your future.
Thank you for reading HOW TO INSURANCE
Helping YOU understand insurance,
building CONFIDENCE for your future!
Insurance Broker
Apple Insurance Solutions
360.818.4865 | appleinsurancesolutions.com
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