Medicare supplement plans are designed to pay for some of the Healthcare which is not covered by Medicare plan. It generally does not provide stand-alone benefits means a person needs to be enrolled and stay in basic Medicare plan in order to avail the facility of Medicare supplement plans. However, the premium for Medicare supplement plan is much higher than the basic Medicare policies. But before purchasing any kind of Medicare supplement plan it is compulsory to have a basic Medicare policy. The Medicare supplement plans are acting like a supplement to the original Medicare plans they have significance of their own which cannot be ignored. It provides numerous additional benefits over the basic Medicare plan. There are in total 10 different Medicare supplement plans available in the market. These are lettered from A-N (ruling out E, H, I &J) each with an entirely different range of medical facilities and coverage based on different monthly premium.
Medicare Advantage plan
Medicare Advantage plan is just another way of getting your Medicare coverage. This plan is all about getting benefits for part A & B of Medicare through a Medicare-approved private insurance company. Some of the Medicare advantage plans besides providing benefits for part A and B of Medicare policy also provide certain additional benefits such as prescription drug coverage, routine dental service, fitness programs etc. For quotes on AARP Medigap plans visit https://www.medisupps.com/
When an individual enrolls in a Medicare advantage plan he or she is still a member of Medicare program and is bound to pay the monthly Medicare part B premium, however, these services are controlled and administered under single policy only. There are many different types of Medicare Advantage plans which are described below
1) Maintenance organizations which requires individual to utilize Healthcare providers in a designated plan network.
2) Preferred provider organization cover more of the medical costs if the individual stays inside the network.
3) Shall meet plans are Taylor plant specifically designed for beneficiaries with certain health conditions
Comparison between Medicare supplement plan & advantage plan
Medicare supplement plan works in tandem with original Medicare coverage. These plans have the significant difference when it comes to cost-benefit and functioning. Whereas on the other side Medicare advantage plan offers an alternative way to receive our Medicare benefits through a Medicare-approved private insurance company.
Depending on the plan Medicare advantage can offer certain additional benefits beyond part A and part B benefits. Whereas Medicare supplement plan isn’t a comprehensive medical coverage rather it is a supplemental coverage to original Medicare.