Medicare Advantage vs MediGap Plans

Now more than ever it is important for Medicare Eligible individuals to understand the difference between Medicare Advantage plans and Medicare MediGap Plans. Watch this informational video explaining some of the major differences between the two types of plans.

Be A Smart Shopper

  •  It’s always a good idea to shop around. Cost is an important factor in any purchase, especially when it comes to health insurance, but it’s not the only thing to consider.There may be dozens of Medicare plans in your area, all with different costs and levels of coverage. How much are each plan’s premiums and deductibles? How much will you pay for the benefits and services you’re likely to use? Is there a limit on what you’ll have to pay out-of-pocket for the year? If you’re currently in a plan, how does that plan compare to the other plans that are available? Thinking about these things will help you make a smart choice to get good value that meets your personal health care needs. 

Compare

  • Because we are Independent Insurance Brokers, we can compare the many options available to you. 
  •  Only you can determine what mix of benefits and costs will work best with your needs and budget, but we can help. 
  • We make it easy to compare plans so you can pick a plan that's right for you. 
  •  Remember that even if you’re happy with your current plan, the plans might change from year to year—so it’s important to take the time to compare. 

Ready to Enroll?

Contact the Burgau Insurance Agency to assist you with your enrollment. Our service does not stop there — we provide the professional customer service you deserve all year. 


What Is Medicare?

image4

 Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD).The different parts of Medicare help cover specific services:

Medicare Part A 

(Hospital Insurance)

Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.

Medicare Part B 

(Medical Insurance) 

Part B covers certain doctors' services, outpatient care, medical supplies, and preventive services.

image5

Medicare Part C (Medicare Advantage Plans)

A type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. If you’re enrolled in a Medicare Advantage Plan, most Medicare services are covered through the plan and aren’t paid for under Original Medicare.Most Medicare Advantage Plans offer prescription drug coverage.

image6

Medicare Part D (prescription drug coverage)

Part D adds prescription drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans. These plans are offered by insurance companies and other private companies approved by Medicare. Medicare Advantage Plans may also offer prescription drug coverage that follows the same rules as Medicare Prescription Drug Plans. 

Choosing Medicare Coverage

Where Do I Start?

More than 10,000 new people enter the Medicare program every day — and many of them are misinformed or haven't had the time to learn what to expect. Errors are common and can carry significant costs.

Agents at Burgau Insurance will assist you as you begin your journey through the Medicare maze.

When Do I Sign Up For Part A and B of Medicare?

When you're first eligible for Medicare, you have a 7-month Initial Enrollment Period to sign up for Part A and/or Part B. 

 In most cases, if you don’t sign up for Medicare Part B when you’re first eligible, you’ll have to pay a late enrollment penalty. You'll have to pay this penalty for as long as you have Part B and could have a gap in your health coverage. 

I'm Still Working - Do I need Medicare?

Every situation is unique. In some instances you may delay your enrollment into Part A and B of Medicare without incurring a penalty. 

We will compare your current coverage to Medicare coverage, and help you determine the right coverage for you.

How Much Does Medicare Cost?

The costs of Medicare depend on the type of coverage you choose. For Original Medicare (Part A & B), monthly premiums are dependent on the number of quarters of Social Security credits you have. You’ll get Medicare Part A for free if you’ve worked at least 10 years (40 quarters) and paid Medicare taxes during that time. Otherwise, you may owe a monthly premium for Medicare Part A; the exact amount of your premium will depend on how long you worked.For Medicare Part B, most beneficiaries pay a monthly premium of $134 in 2017. Your Medicare Part B premium may be higher if you make above a certain income threshold.

What if Medicare doesn't cover all my expenses?

 If Original Medicare does not provide you with enough coverage for the procedures you need, you may wish to enroll in a Medigap policy for the additional coverage. Alternatively, you may consider enrolling in a Medicare Advantage plan or Medicare Cost plan, which cover the same benefits as Original Medicare and could also provide you with additional  benefits, such as prescription drugs, routine vision and dental, or hearing.

What should be my first step?

 Now that you know the basics of Medicare, you may be wondering what kind of plan to enroll in. We always enjoy helping people figure that out!  

The highly qualified agents at Burgau Insurance Agency will help you understand your options, provide a timeline for enrollment, answer your questions, and help you make a choice that best suits your individual needs.

Contact us today to speak with an agent or to set an appointment time that is convenient for you. We look forward to helping you navigate the Medicare maze.