Medicare Supplement Insurance, also known as Medigap, is a private health insurance policy designed to work alongside Original Medicare (Parts A and B) by covering the "gaps" in its coverage, such as deductibles, copayments, and coinsurance. Sold by private companies, these policies are standardized by the government into plans labeled by letters (like Plan G or Plan N), meaning a Plan G from one insurer offers the exact same core benefits as a Plan G from another; only the monthly premium can vary. Medigap plans allow you to see any doctor or specialist in the U.S. who accepts Medicare without needing a referral, providing a predictable financial safety net, but they do not cover prescription drugs (which require a separate Part D plan) or routine vision/dental/hearing care. The best time to purchase a policy is during your 6-month Medigap Open Enrollment Period, when insurers cannot deny coverage or charge you more due to pre-existing health conditions.
Medicare Advantage plans, often called Part C or MA Plans, are an alternative way to receive your Original Medicare (Parts A and B) benefits, offered by private insurance companies approved by Medicare. These "bundled" plans cover all the services provided by Part A and Part B, and most also include prescription drug coverage (Part D) and extra benefits like routine dental, vision, hearing, and fitness programs, which Original Medicare does not cover. A key difference is that these plans typically operate with provider networks (HMOs or PPOs), which may require you to use specific doctors and facilities, and they provide a yearly out-of-pocket maximum to cap your annual medical spending, offering a financial safeguard that Original Medicare lacks.
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