Medigap or Medicare Advantage Program?
Medicare’s Annual Open Enrollment is fast approaching and runs from October 15 – December 7, 2023. It’s essential to understand the benefits and features of the two different Medicare programs so you can choose the one that is best for your budget, healthcare needs, and lifestyle.
For the last ten years, I have had the privilege of educating my clients about their Medicare insurance options as they approach their 65th birthday and make changes when needed. It can be overwhelming to transition to Medicare from an employer’s group plan or individual healthcare insurance.
So, what are your two basic Medicare options?
Medicare Supplement (Medigap) and Medicare Advantage (Part C) Program. (Refer to Medicare & You 2024 handbook for details)
Finally, understand What’s Medicare does NOT cover under Part A and Part B!
Medicare doesn’t cover everything. Some of the items and services Medicare doesn’t cover include:
- Long-Term Care (also called custodial care)
- Most dental care
- Eye exams related to prescribing glasses.
- Dentures
- Cosmetic surgery
- Acupuncture
- Hearing aids and exams for fitting them.
- Routine foot care
More services not covered by Medigap and Medicare Advantage
- Long-Term Care
- Concierge Care
One of the most significant misunderstandings of most recipients new to Medicare is realizing that Medicare doesn’t cover long-term care benefits.
With a basic understanding of the two programs, I recommend talking to a licensed Medicare Insurance broker to discuss your Medicare needs, budget, desired medical providers, and lifestyle to finalize your decision.
Start here to schedule that conversation.
Eleonore D. Weber
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Sources: 2016 and 2021 Medicare.gov
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