Medigap vs. Medicare Advantage - Compass Insurance Advisors
  • Estimated reading time: 3 minutes

    Choosing the Right Plan

    When enrolling in Medicare, you have choices to enhance your plan. You can keep original Medicare, add a Medicare Supplement, or enroll in a Medicare Advantage plan.

    Original Medicare has no max out of pocket limits. So if you have a $100,000 medical bill, you may pay up to 20% or around $20,000. For this reason, most people will enroll in a Medicare Supplement or Medicare Advantage plan.

    • Original Medicare + prescription 
      • (Parts A & B) + D
    • Original Medicare + Medicare Supplement/Medigap + prescription 
      • (Parts A & B) + Supplement + D
    • Medicare Advantage 
      • (Part C) 

    Medicare Supplements vs. Medicare Advantage Plans

    Along with original Medicare, you have the option to add a Medicare Supplement Plan or Medicare Advantage plan. Medicare Supplements (also known as Medigap) are typically very comprehensive coverage. If you enroll when you first turn 65 there is no underwriting required, so you will be accepted onto the plan regardless of your health status. Medicare Supplements are an especially good fit if you encounter high medical costs and if you spend more than $150 a month on doctors visits.

    With a Medicare Advantage plan, the premiums start as low as $0. You will still have to pay your Part B premium. An Advantage plan will typically give you a maximum out of pocket limit, and has no deductible. With the extra coverage of an Advantage plan, you will simply pay small copays and coinsurance (For example, $5 to see a primary care physician or $15 to see a specialist). Once all your copays and coinsurance payments equal your max out of pocket, any qualified medical expenses will be covered 100%.

      Medicare Supplement Medicare Advantage
    Cost: $100/month $0/month
    Deductible: $198/year $0/year
    Co-Payments: No Yes
    Co-Insurance: No Yes
    Network:  No Yes
    Includes Prescription Drug Coverage: No Yes

    ** Bonus Tip: Medicare Advantage plans can be paired with a hospital indemnity plan to cover the major copayments and coinsurance required on an Advantage plan. Hospital indemnity plans pay you cash benefits in the case of hospitalizations, outpatient stays, long-term care and more. Medicare Advantage plans paired with a hospital indemnity plan can provide very comprehensive coverage and are still less expensive than a Medicare Supplement. If you are interested in getting a quote and comparing your options with Medicare Supplements/Medigap, Medicare Advantage plans, or a hospital indemnity plan, call or schedule an appointment to talk to one of our local Medicare advisors today! **

    Choose Your Health Insurance Program Wisely

    Deciding which plan is right for you can depend on a number of factors. Schedule a time to talk to one of our advisors today, and they can help explain all of your options. We can show you the Medicare Advantage plans available in your area, and compare Medicare Supplement plans. Our agents are trained to educate, so you can make the best decision for your situation.

    Are you looking to sign up for Medicare at the comfort of your home? Contact us today! Are agents available to do an online screen share appointment, and process your application online. Our local advisors are also available to meet in person in our office or at your home.

  • Leave a Reply

    Your email address will not be published. Required fields are marked *

Need Help?

Speak To Donal Today!

(801) 867-9730

Monday - Friday 8:00 am - 9:00 PM


Or Find Affordable Insurance Plans

Related Articles

Dynamic Blog Short Description

  • Medicare Part D Notices Are Due Before Oct. 15, 2021

    Medicare Part D Notices Each year, Medicare Part D requires group health plan sponsors to disclose to individuals who are eligible for Medicare Part D and to the Centers for Medicare and Medicaid Services (CMS) whether the health plan’s prescription drug coverage is creditable. Plan sponsor

    Read More
  • Health Insurance and Pregnancy

    Services for Pregnant Women or Women Who may Become Pregnant Breastfeeding support and counseling from trained providers, and access to breastfeeding supplies, for pregnant and nursing women.Breast feeding support, counseling and equipment for the duration of breast feedingCoverage for pumps an

    Read More
  • Medicare Part C/Medicare Advantage

    What is Medicare Part C? Medicare Part C, also known as Medicare Advantage, is a collection of health plan options with approved Medicare benefits offered by private companies. Medicare Part C is available in many areas of the country.  The premium for Medicare Part C is not based on hea

    Read More
  • Critical Illness Policies Explained

    Critical illness coverage is a supplemental insurance policy that pays a lump sum check for a diagnosis of a critical illness. This is a great option to add to your health insurance, whether you’re covered in the private market, through an employer health insurance plan, or even Medicare. The

    Read More
  • Preparing for Open Enrollment With a Hybrid Workforce

    With open enrollment season approaching, now’s the time for HR professionals to kick off their planning. Due to the pandemic—and employees’ desire for flexibility—many employers now find themselves with a workforce on a hybrid schedule. It’s imperative they make appropriate adjustments to

    Read More
  • Why Work with a Local Broker

    There are many benefits of working with a local health insurance broker. Give us a call or find an agent near you HERE. No Extra Costs - The price of your health insurance plan is legally regulated, so you will find the same premium no matter where you shop. Working with a Compass advisor means

    Read More
  • Medicare Part A FAQ

    What is Medicare Part A? Medicare Part A is hospital insurance for in-patient services.  Three groups of people are eligible for Medicare Part A:  people 65 years and olderpeople under 65 years with certain disabilitiesand people of any age with End-Stage Renal Disease. 

    Read More
  • What is the Difference Between a Health Insurance Agent, Broker, and Advisor?

    This is a common question we hear from our clients.  While it is true that often these terms are used interchangeably, let’s discuss some key differences in approaches taken by health insurance professionals when working with clients. Agent – A person or business authorized to act on anothe

    Read More
  • How Obamacare Works

    How Obamacare Works I want to begin by helping you understand one of the most misunderstood words in health insurance, "Obamacare." The government has done a great job in promoting Obamacare in that if you haven't ever heard the term then you were probably one of the crew members aboard the S.S.

    Read More

What Others Say About Us

Our Customers Love Us

Donal Smith

(801) 867-9730

No Extra Cost. Professional Guidence. Complete Protection. Simplified Enrollment. Personalized Support.