Medicare Advantage Plans: These are all-in-one plans offered by private insurers that bundle Medicare Parts A, B, and often D. They often include additional benefits like vision, dental, and fitness programs, but they usually require you to use a specific network of doctors and hospitals.

Medigap Plans: These supplemental plans work alongside Original Medicare (Parts A and B) to cover out-of-pocket expenses like deductibles, copayments, and coinsurance. They provide greater flexibility, allowing you to see any provider that accepts Medicare, without network restrictions.

Medicare Advantage Plans: These plans often have lower premiums than Medigap, but you may face higher out-of-pocket costs for services like hospital stays or specialist visits. Additionally, you may need to pay copayments or coinsurance when accessing care.

Medigap Plans: While premiums for Medigap are typically higher, they significantly reduce or eliminate out-of-pocket costs. This makes them ideal for those who want predictable healthcare expenses and extensive coverage.

Medicare Advantage Plans: Most include prescription drug coverage (Part D) within the plan, making it a convenient all-in-one solution.

Medigap Plans: These do not include prescription drug coverage. If you choose Medigap, you’ll need to purchase a standalone Part D plan to cover medications.

Centers for Medicare & Medicaid Services. (n.d.). Medicare & You 2024. Retrieved from https://www.medicare.gov