Medigap vs Medicare Advantage 2020
Many seniors require healthcare coverage. And for their medical coverage plan for 2020, they are preparing to choose a policy that can offer them great value for their money. Most of them are comparing their choices to find out which plan offers them the best deal. In this post, let us examine two particular plans that can help seniors in paying their medical expenses. We are talking of Medigap vs Medicare Advantage 2020. They are perfect plans for seniors but you must pick one that fits you better.
Coverage of Medicare Advantage 2020 and Medigap
These two plans will cover your medical expenses but they do so differently. Even though they overlap a bit, they are different when it comes to coverage.
For instance, Medigap plans will handle coinsurance, excess charges, deductibles and copays, as well as blood usage and foreign travel expenses for medical emergencies. That’s why they are designed to supplement Original Medicare. They can fill in these medical expenses that the basic Medicare plan does not cover. As you try to compare Medigap vs Medicare Advantage 2020, you will know the differences.
There are 8 plans under Medigap. Each plan has a different line of coverage. Some will cover for just a few things while others will cover all or most of the supplementary costs.
Medicare Advantage plans, on the other hand, covers the cost of Parts A and B, including emergency medical services. It also includes urgently needed healthcare services. Some of the plans can cover costs associated with hearing, vision, and general wellness checkups. You can also obtain a plan that integrates Part D plan that covers prescription drugs.
Compare the Cost
The cost of obtaining Medicare Advantage plans can be from $0 to $300 per month. Plus, there is a deductible cost that you need to handle. Medigap plans will cost you $60. And that is the lowest coverage. The highest coverage has a price tag of around $460. The higher the coverage is, the more medical expenses it can cover. In that case, do not allow the price tag to alarm you.
Before, the only way to compare cost is to go to the insurers’ offices and request quotes. These days, however, there is a quick way to request quotes using our free tool. Our comparison quote tool will give you all the rates that you need from various insurers. Once received, you can start comparing the rates between Medigap and Medicare Advantage plans. In addition to it being free, our tool is also easy to use as you only need to enter the name of the plan you wish to obtain and the zip code. A few seconds later, you will receive a list of quotes of your chosen plan from various insurers.
With this list, you can easily find which insurer offers the best rates and coverage. No matter what plan you wish to compare, you can use our free search service as often as you want. You may use our free tool not just when comparing Medicare Advantage and Medigap plans but you can use it to analyze other health insurance options. We will not only list the major insurers in your area but also those local insurance providers.
How to Register
You can only sign up for one of these plans if you are eligible to obtain one. Just because you need medical coverage does not mean that insurers will allow you to obtain it without first looking at your eligibility.
Medigap and Medicare Advantage plans require that you have Original Medicare. It must be active and current. Medigap plans work along with Original Medicare. That’s why they need your basic Medicare plan to be active. Keep in mind that they act as complementary coverage.
Medicare Advantage, however, functions as a replacement for the Original Medicare plan. However, it still needs Original Medicare because it does not handle hospice care. The coverage will come from Medicare.
When you reach 65, you can sign up for Medigap. It is also the same with MA plans. But for Medigap, you have six-month window to sign up. Never allow this time to pass you by as you will have to pay more if you decide to sign up later on.
The enrollment period for Medicare Advantage is during the Open Enrollment Period, which happens from October 15 to December 7. Do not miss this window as it only happens once a year. Missing it will mean that you have to wait for next year to sign up for an MA plan.
Medicare does not allow duplicate coverage. In that case, you cannot have a Medicare Advantage plan and a Medigap policy at the same time. The reason for this is that they overlap in coverage. You just need to pick one.
These two plans will also cause conflict with your employer’s healthcare plans. If you have one, then you should consider dropping it before your Medigap or Medicare Advantage plan will start covering you.
Other healthcare coverage may also conflict with these healthcare plans. Make sure to contact us to know whether or not you have differing medical coverage. We can assist you in determining it.
If you need further help in comparing the plans, make sure to call us. We will help you in making sense of the various coverage options and assist you in searching for the plan that is a good fit for your medical care needs.
We suggest that you compare Medigap vs Medicare Advantage for 2020 to know the best option. You can find various perks with these policies and different network choices. Medicare Advantage will only give you full coverage if you are on the insurer’s network. Medigap, however, will cover for you no matter what Medicare-approved healthcare facility you go to. You should keep this in mind when you try to figure out which plan to go with.
Compare 2020 Medicare Advantage Plans