Medicare Advantage plans are quite different from a Medicare supplement plan, also known as Medigap.
When you enroll in a Medicare Advantage plan you are no longer in original Medicare. Your health insurance is covered by a private insurance carrier. Medical providers file your claims with your Advantage carrier, not Medicare.
Most Advantage plans have networks you are required to use if you want full coverage. Some Advantage plans provide OON (out of network) coverage but with higher deductibles, copay's and coinsurance. HMO Advantage plans typically have no benefits when you use a non-par provider.
With original Medicare you have the freedom to use any doctor, hospital or other medical provider anywhere in the country. There are no networks.
Medical providers file claims with Medicare. Once Medicare adjudicates and approves the claim it is forwarded on to your Medigap carrier so they can pay their portion.
This is a very important question. The easiest way of explaining it is that Medicare Advantage works the same way as most insurance you get while you're working. You have copays, deductibles, and monthly premiums. They combine all of your insurance into one comprehensive plan. Medigap, or Medicare Supplements, on the other hand simply cover some or all of the expenses left over after traditional Medicare has paid their share.
In general, Medicare Advantage plans tend to be cheaper, but Medigap plans have less out of pocket costs during the year. Which one is best for you is a great question to ask your insurance broker.
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When you enroll in a Medicare Advantage plan you are no longer in original Medicare. Your health insurance is covered by a private insurance carrier. Medical providers file your claims with your Advantage carrier, not Medicare.
Most Advantage plans have networks you are required to use if you want full coverage. Some Advantage plans provide OON (out of network) coverage but with higher deductibles, copay's and coinsurance. HMO Advantage plans typically have no benefits when you use a non-par provider.
With original Medicare you have the freedom to use any doctor, hospital or other medical provider anywhere in the country. There are no networks.
Medical providers file claims with Medicare. Once Medicare adjudicates and approves the claim it is forwarded on to your Medigap carrier so they can pay their portion.
In general, Medicare Advantage plans tend to be cheaper, but Medigap plans have less out of pocket costs during the year. Which one is best for you is a great question to ask your insurance broker.