When an American citizen turns 65 years of age, they have the option to enroll in Medicare (they may also qualify before the age of 65 if they are eligible for disability benefits). Basic Medicare, which includes Parts A and B, cover most of your basic hospital and doctor expenses, respectively. Unfortunately, “most” does not mean “all”. The expenses which Medicare does not cover – sometimes referred to as “gaps” in coverage – are what Medicare Supplement insurance protects you from. It is a private plan designed to cover the medical expenses where Traditional Medicare falls short of the mark.

Who is Eligible for Medicare Supplement Insurance?

If any of the following scenarios apply to you, then you are already guaranteed “eligible” to purchase Medicare supplemental insurance:

  • You are currently covered under Medicare Parts A & B
  • You are within 6 months of turning 65
  • You are within 6 months of receiving Part B coverage
  • If you are about to lose your group health insurance plan

Medigap or Medicare Advantage: Which is Better?

With Medigap:         

  • You still have Original Medicare; Medigap simple helps pay for extra out-of-pocket costs
  • All Medigap plans of the same letter (A through N) cover the same benefits
  • Plans are sold by different companies, and prices vary based on where you live and how old you are
  • You can only enroll at certain times
With Medicare Advantage:

  • You have a separate plan that offers all the same coverage as Original Medicare
  • Some cover extra benefits, like dental or vision
  • Medicare Advantage plans come with different rules and costs than Original Medicare – including restrictions on how and when you get care
  • You have out-of-pocket spending limits that protect you in case you need a lot of care in a given year
  • You may have to use doctors and hospitals in your network
  • There are restrictions on when you can enroll or switch plans

Still confused?  Then let us help you shift through the confusion.  We are here to help you and your family make the best decision for you.