About Medicare Advantage and Medicare Supplement Insurance
Medicare is the federal health insurance program for people who are 65 years old or older. Those below 65 years of age may also qualify if they have a disability or are in another special situation.
There are two ways for you to receive Medicare benefits. One is through the federal government and Original Medicare (Parts A and B), and the second is through a Medicare-approved private insurance provider.
Medicare Advantage
Medicare Advantage plans are offered by private companies. As mandated by the federal government, it provides the same amount of coverage offered by Medicare plans A and B. Depending on the carrier, there may be additional services covered.
Medicare Supplement Insurance
Like Medicare Advantage plans, Medical Supplement Insurance (Medigap) plans are offered by private companies. However, they are not the same. A Medigap policy helps pay for some of the health care costs that Medicare does not cover. These may include copayments, coinsurance, and certain out-of-pocket expenses.