Medicare Advantage & Medicare Supplement Plans

You have likely heard the term “Medicare advantage plan” or “Medicare supplement plan” but may not be certain what exactly it means. Below you’ll find some answers to help you get started. We also offer free informational Medicare workshops throughout the state of Minnesota and free one-on-one meetings with agents where you can ask questions and get personal answers. To attend a seminar or set up an appointment call us toll free at 1-800-507-6778 or send us a message. We are here to help you.

Simply put, a Medicare Advantage Plan offers coverage through a private company instead of through government-provided Medicare. You would choose this option along with having enrolled in Medicare Part A or Part B .

One way to receive your Medicare Coverage is by enrolling in a Medicare Advantage Plan (like an HMO or PPO). Medicare Advantage Plans, sometimes called “Part C” or “MA Plans” are offered by private insurance companies approved by Medicare. It’s important to remember Medicare Advantage Plans are not Medicare Supplements (Medigap). These plans will provide coverage for your approved Medicare Part A (hospital) and Part B (medical) coverage. Many of the Medicare Advantage plans will have a network of contracted providers and facilities. It’s important to understand how the network functions and to be sure the plan you choose contracts with the providers you want to use. When you enroll in a Medicare Advantage Plan, The Centers for Medicare and Medicaid Services (CMS) will send a flat monthly rate to the insurance companies while you are enrolled in their plan. That money is sent whether you have claims or not. Check out our FAQ for a full breakdown of Medicare plans.

What happens when your Medicare pays for most of your costs, but not all of your costs? Don’t worry- Medicare Supplement Insurance (Medigap) will pay for the extra costs such as copayments, coinsurance, and deductibles that Medicare may not completely cover. It’s a policy that helps pay for some things that Medicare may not completely pay for.  Medigap plans are sold by private insurance companies licensed to offer these plans in your state. Medigap plans are different than Medicare Advantage Plans (like an HMO and PPO).  Medigap policies do NOT cover most Part D prescription medications. If you want drug coverage, you can add standalone Part D plans available in your service area.