Medigap is just a nickname for private insurance that supplements existing Toledo, Ohio Medicare users. Medigap’s formal name is Medicare Supplemental Insurance. While Medicare Advantage plans and Medigap plans are both commonly referred to as supplemental insurance plans, Medigap is the only true Ohio supplemental health insurance.
Medigap (Medicare Supplemental Insurance)
Medigap is NOT run by the government. It is sold by private insurance companies to those enrolled in Toledo, Ohio Medicare to help take care of any costs left over by your Medicare health coverage. While Medigap health coverage is not run by the government, it is standardized by law to ensure that the benefits you get are the same, no matter where you purchase the insurance. It is still highly advised to shop around because, while the health coverage benefits are the same, the prices can vary from one Toledo, Ohio insurance company to the next.
Medicare Advantage
Medicare Advantage is the name given to talk about a variety of private Toledo, Ohio health care plans. Among these plans are PPOs, HMOs, PFFS (Private Fee for Service Plans) and others.
Also known as Medicare Part C, Medicare Advantage is an alternative to a traditional Medicare health plan. This means that unlike Medigap, Medicare Advantage takes the place of Medicare instead of just supplementing it. With a Medicare Advantage plan, you are not eligible to enroll in a Medigap plan or a stand-alone prescription drug plan.
This doesn’t mean that Medicare Advantage is worse than Medicare with the Medigap supplement or that you will receive less coverage. Medicare Advantage plans offer the same benefits as traditional Medicare. The Medicare Advantage plan just utilizes a copayment system and can offer additional benefits. Copayments may be lower than traditional Medicare and they could be higher. Every plan is different and this requires you to do research and shop around for the best policy for you.
