Sometimes called Medicare Part C or MA Plans, Medicare Advantage Plans are offered by private companies and approved by Medicare. If you join a Medicare Advantage Plan, you still have Medicare. Your Medicare Part A and Part B coverage will come from the Medicare Advantage Plan and not Original Medicare.
These plans cover all Medicare services and may also offer extra coverage. However, fees and rules for each plan vary. Prescription drug coverage (Part D) is usually provided through the plan.
Medicare Supplement Insurance or Medigap policies help to pay the remaining 20 percent of what Medicare doesn’t cover. These plans cover such expenses as copayments, coinsurance and deductibles. Sold by private companies, some plans cover services such as travel outside of the United States.
If you have a Medigap policy, Medicare will pay its share of the approved costs, then your Medigap policy will pay its share. A Medigap policy is NOT a Medicare Advantage Plan. Medigap only supplements Original Medicare benefits.