Better Insurance Options Senior Security: Recent Episodes
Frank Sutter
Why is Medicare Advantage so much cheaper then Medigap coverage? Don't they do the same thing?
Yeah.....no. Actually, not even close.
I got this question in my office the other day, and I wanted to help, because this is a big decision.
The simple truth is that Medicare Advantage is much closer to Original Medicare. There are real differences with Medicare Advantage such as an Out Of Pocket Maximum, and the bundled Part D benefit, but overall, the two plans are very similar.
Medicare Advantage plans do not replace Medicare, they build on it. Medicare Advantage has to offer every benefit that original Medicare offers by law so basically, it will be a mirror copy with some add-ons. There are good things about Medicare Advantage plans, real, tangible benefits, such as an Out Of Pocket Maximum, and the bundled Part D benefit, but it would help you tremendously to know exactly what you are getting.
Everyones perscription drug mix is different, Part D perscription drug coverage is not a "One-size fits all" choice. So why does an Advantage plan offer just one choice in drug coverage? To meet the needs of the largest number of beneficiaries, of course! If you choose a Part C Advantage plan, you have to take the drug plan that is attached to it. Period.
So what is the solution to that? Go in a different direction! Consider Medicare Supplement plans, where you get better coverage, and you get to pick whatever drug coverage you want. Choice is good. Come explore the possibilities on my website, franklybetterme.com/seniorsecurity
Original Medicare always leaves something for the individual to pay, and sometimes it can be a lot. I can protect you.