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ALL YOU NEED TO KNOW ABOUT MEDIGAP

Medigap is supplementary health insurance offered by private companies. It addresses deductibles, copays and coinsurance health care costs covered by Original Medicare (Medicare Part A and Medicare Part B).‘Medigap’ is useful because it covers gaps left by Medicare Parts A and B, such as co-payments, deductibles, coinsurance, and emergency health care outside the US. Pay a monthly premium to get Medicare supplement insurance in Florida to supplement Original Medicare.

You can only obtain a Medigap plus prescription plan Florida if you already have Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance). Medicare Part A covers inpatient care in nursing facilities, hospitals, and hospices. Medicare Part B covers outpatient care - services from doctors.

Together Medicare Part A and Medicare Part B are called Original Medicare, providing comprehensive insurance to cover various healthcare costs. But a lot of areas are left uncovered by Original Medicare. Medicare Part C (Medicare Advantage Plans) and Medicare Part D (Prescription Drug Plans) were introduced to cover some of the aspects of healthcare left out by Parts A and B.

A person holding Medicare Advantage cannot apply for Medicare supplement insurance in Florida. Decide which will work better for you and choose one out of the two.

MEDIGAP VS MEDICARE ADVANTAGE

Medigap, like Medicare Advantage, is provided by private insurance companies to cover costs such as deductibles, co-payments, coinsurance, and emergency healthcare during foreign travel. Medigap Plan G is the most widely used Medigap Policy. It also provides the highest coverage out of all Medigap plus prescription plans in Florida.

Medicare Advantage is an alternative to Original Medicare. It covers vision, dental, hearing services, wellness programs, and some chronic illnesses. It might assist in bearing overhead costs like transportation to a doctor, over-the-counter medications, and adult day care services.

  • Medigap costs more than Medicare Advantage, but it also covers more healthcare costs and is beneficial and cost-effective in the long run.  Medicare Advantage Plan coverage must only be actuarially equivalent to Original Medicare Part A and B, where Medigap coverage extends to supplement the deductibles, copays and coinsurance of Original Medicare Part A and B.
  • Medigap also offer more flexibility in the choice of physicians and doctors. Medicare Advantage will make you stick rigidly to the same in-network doctors.
  • Medigap is more suitable for people who frequently travel, especially those who cross state lines and international borders.

Medicare Advantage may be more suitable if you are looking to spend less. The enrollment process will be more straightforward, and prescription drugs may also be covered (Medicare Part D).

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