Duane Roberts 
Medicare Advantage Plans (MA Plans) are often confused with Medicare supplements. They aren’t. Supplement plans, also known as Medigap plans, are standardized insurance policies that cover up the gaps left by Medicare Parts A and B.
Medicare Part A And B
There are two types of Medicare supplement plans: Medigap plans and Supplemental Insurance plans.
Part A of Medicare covers inpatient treatment, whereas Part B covers outpatient care and other services. Except for a 2011 deductible of $1132, the government covers 60 days of a hospital stay under Part A.
With a modest $162 deductible for the new year, Medicare Part B covers 80 percent of the costs of qualified medical treatments. There are a variety of supplement options, most of which cover deductibles and the 20% gap in Part B.
Medicare Advantage plans 2022 do not fill up the gaps left by Parts A and B of the Medicare program. Instead of Medicare, people opt for a private insurance plan to take its place. The plans, which are often provided as HMO or PPO coverage, typically contain networks of physicians and hospitals who have agreed to provide services in exchange for co-payments from both the members and the insurance company, as described above.
You must use only network providers unless you have a major medical emergency under an HMO-style plan. PPO plans provide fewer benefits if you are not in their network.
Medicare supplements can cost more than Medicare Advantage Plans. Most of them fill up the gaps, leaving you with little out-of-pocket payments. Although advantage plans have cheaper monthly premiums, they sometimes need more expensive medical care.
A Medicare Advantage plans 2022 officially covers you under Medicare Part C, and your coverage under Medicare Parts I, II, III, IV, and V is deactivated. In this case, you would be unable to utilize your Medicare card to get medical care services.
While Medicare Parts A and B are no longer in existence, Part B is still deducted from your social security income. Because of this payment, the government may fund your Advantage plan.
A private insurance plan indeed gets more money from the government since it accepts the whole financial risk of providing you with health care. Prescription coverage is generally included in the bundle at no additional charge. But supplements don’t. Even if you have Medigap insurance, you’ll need to buy a separate Part D Prescription Drug Plan to cover medicines bought from a pharmacy.
Understand the Medicare Advantage Plans
One of the most important differences between the two types of plans is the flexibility to change coverage at any moment. A supplement may be changed at any time of year. After the current year, people may sign up for an advantage plan for coverage starting January 1 of the following year.
If you have enrolled in a Medicare Advantage Plan and decide not to continue, you have until February 14 to go back to standard Medicare. If you don’t update your plan by February 15th, you’re stuck with it for the rest of the year.
Most people choose a Medicare supplement over a Medicare Advantage Plan, with the monthly premium being the main factor. Advantage Plan may be the ideal choice for you if it delivers the providers you need at a reasonable price.
When It Comes To Medicare Advantage plans2022, Which One Is The Best Fit For My Needs?
Medicare Advantage Plans are popular since some of them do not need any additional premiums and satisfy the needs of the vast majority of people who qualify for them.