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Can You Have Medicare Advantage And Medigap?

May 27, 20234 min read

Can You Have Medicare Advantage And Medigap?

Medicare, a federal program, provides health coverage for individuals aged 65 and older or with certain disabilities. While it covers a significant portion of healthcare costs, it doesn't cover everything. This is where Medicare Advantage and Medigap come into play. These two types of insurance are designed to supplement Original Medicare, covering costs that Medicare doesn't. But can you have both Medicare Advantage and Medigap? Let's delve into this question.

Understanding Medicare Advantage and Medigap

Before we can answer the question, it's essential to understand what Medicare Advantage and Medigap are and what they offer.

Medicare Advantage

Medicare Advantage, also known as Medicare Part C, is an alternative to Original Medicare (Part A and Part B). These plans are offered by private, Medicare-approved insurance companies and often include benefits beyond those provided by Original Medicare. These additional benefits may include prescription drug coverage, routine dental care, eyeglasses, and even gym memberships.

Medicare Advantage plans operate primarily as Health Maintenance Organizations (HMOs) or Preferred Provider Organizations (PPOs). HMOs require members to use the doctors and hospitals within their networks, while PPOs allow members to receive care outside the plan's network, albeit usually at a higher cost. Some plans may require prior authorization for specialist care or procedures, and care might not be covered outside of the network's geographical area.

Medigap

Medigap, also known as Medicare Supplement Insurance, is designed to fill the "gaps" in Original Medicare coverage. These policies are sold by private companies and help pay some of the healthcare costs that Original Medicare doesn't cover, such as copayments, coinsurance, and deductibles. Some Medigap policies also offer coverage for services that Original Medicare doesn't cover, like medical care when you travel outside the U.S.

Unlike Medicare Advantage plans, Medigap policies don't offer stand-alone benefits. You must have Medicare Part A and Part B to qualify for a Medigap policy. Furthermore, a Medigap policy only covers one person. If both you and your spouse want Medigap coverage, you'll each need to buy separate policies.

Can You Have Both?

The short answer is no. You cannot have both a Medicare Advantage Plan and a Medigap policy. This is because Medicare Advantage plans are an alternative to Original Medicare, and Medigap policies are designed to supplement Original Medicare, not Medicare Advantage.

If you're enrolled in a Medicare Advantage plan, it's illegal for anyone to sell you a Medigap policy unless you're switching back to Original Medicare. It's important to note that you have the right to drop your Medicare Advantage plan and return to Original Medicare during certain times of the year. If you decide to do this, you might have a right to buy a Medigap policy, depending on the laws in your state.

Choosing Between Medicare Advantage and Medigap

Choosing between Medicare Advantage and Medigap can be a complex decision. It depends on several factors, including your health needs, lifestyle, and budget. Here are some things to consider:

Costs

Medicare Advantage plans might save you money on premiums, especially if they include prescription drug benefits. However, you'll need to consider any out-of-pocket expenses, such as copayments and deductibles. On the other hand, while supplementing Medicare with Medigap may be more expensive upfront, it could offer more comprehensive coverage, potentially saving you money in the long run.

Choice of Doctors

Original Medicare, supplemented with a Medigap policy, allows you to use any U.S. doctor or hospital that accepts Medicare, and most do. On the other hand, most Medicare Advantage plans restrict you to using physicians within their network and may cover less, or none, of the expenses of using out-of-network providers.

Lifestyle Factors

If you travel frequently or spend part of the year in a different geographical area, Original Medicare plus a Medigap policy might be a better choice. This is because Medigap insurance plans cover you for any hospital or doctor in the U.S. that accepts Medicare. On the other hand, Medicare Advantage plans might not cover care given outside of the network’s geographical area.

Health Needs

If you have chronic diseases or develop a serious health condition, a Medicare Advantage plan may be a better choice due to its out-of-pocket maximum. Regular Medicare plus a Medigap insurance plan generally allows you more choice in where you receive your care.

Conclusion

While you can't have both a Medicare Advantage plan and a Medigap policy, understanding the differences between these two options can help you make an informed decision about which is right for you. Consider your health needs, lifestyle, and budget, and consult with a healthcare professional or insurance advisor to help guide your decision.

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