If you can afford a Medigap (or Medicare Supplement) then I recommend the Supplement. You do not have to worry about networks of doctors and the potential out of pocket costs will be less if you are hospitalized. A medicare Advantage Plan is good for those on a fixed income. There are 0 premium plans available that provide very good coverage. The drawbacks would be that you have to stay in network to receive full benefit, you have copays and deductibles, and your out of pocket exposure will be higher than if you have a Medicare Supplement and are hospitalized. If you never have to use your plan then a Medicare Advantage is good because of the low or no premium. If you want litte to no out of pocket if you go to a hospital or have to use your plan then the Medicare Supplement is the way to go. Everything depends on your personal situation. What is good for you may not be good for your neighbor. Consult a good experienced agent who can provide both options.
Medicare Advantage plans generally have lower premiums than Medigap plans. In some situations the Advantage premium is $0 which makes them visually attractive.
But Advantage plans have a lot of moving parts and a lot of out of pocket. They are great plans until you get sick and then they are quite costly.
If your goal is to protect yourself against large medical expenses, a Medigap plan is a better choice. Once I explain the differences in the two, almost 100% will pick Medigap over Advantage plans.
Agent, Leading Times Insurance, LLC, United States
It also depends on how your marketplace is. Most populated cities with large portions of seniors, Medicare Advantage can really be affordable and offer some really good benefits. You will want to check in an agent to evaluate all the options. In Pennsylvania we have plans that are really low premium, and you will get significant benefits.
The agent you speak with will tell you the pros and cons of both types of plans in your marketplace.
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But Advantage plans have a lot of moving parts and a lot of out of pocket. They are great plans until you get sick and then they are quite costly.
If your goal is to protect yourself against large medical expenses, a Medigap plan is a better choice. Once I explain the differences in the two, almost 100% will pick Medigap over Advantage plans.
The agent you speak with will tell you the pros and cons of both types of plans in your marketplace.