Medicare Supplement (sometimes referred to as Medigap Insurance)
Still the most common classification of Medicare insurance nationally, this refers to individuals who have Original Medicare (Part A and Part B), and who also purchase a Medicare Supplement to help insure the approximate 20% of healthcare expenses that are not covered by Original Medicare. Medicare Supplements provide coverage that is secondary to Medicare; meaning Medicare pays first and the Medicare Supplement pays second (click here for more information on Medicare Supplements).
Medicare Advantage Plan
Also referred to as Medicare Part C, a Medicare Advantage plan incorporates your Part A, Part B, and usually Part D Prescription Drug coverage into one plan (click here for more information on Medicare Advantage plans).
Company-Sponsored Medicare Plan
This broad category refers to people who receive some form of Medicare insurance from a current or former employer (or their spouse’s employer). This category includes corporate Medicare plans, union member plans, military plans (TRICARE for Life), and Medicare plans offered to federal, state and municipal retirees. This type of insurance may be a plan that works secondary to Medicare or it may function as a Medicare Advantage plan. Oftentimes, employer-sponsored Medicare plans feature premiums that are considerably more expensive than comparable Medicare plans that are available to the general Medicare population. If you are considering cancelling an employer-sponsored Medicare plan and joining a regular Medicare Supplement or Medicare Advantage plan, be sure to carefully consider your options, as employers often will not allow retirees to return to the plan after cancelling coverage.
Medicare/Medicaid
These are individuals who qualify for both Original Medicare and Medicaid benefits simultaneously. Often referred to as being “dual-eligible”, Medicare/Medicaid beneficiaries meet state-specific income requirements for Medicaid eligibility, in addition to being qualified for Original Medicare. In basic terms, these individuals have Medicare as their primary insurance and Medicaid as secondary insurance.

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