1. 2275 POINTS
    Bill LougheadPRO
    President, SummitMedigap.com, CO, FL, GA, MI, NC, SC & TX
    The answer to that question depends a lot on the needs of the individual. I will explain some of the pros and cons of both.

    Medigap Plans (also known as Medicare Supplement)-

    - Monthly premium (amount will vary based on the type of plan)
    - Little to no out of pocket costs.
    - No network- You can go to any doctor or hospital you want. If they take Medicare they will take the supplement
    - Benefits can't change from year to year
    - Guaranteed renewable- as long as you make the premium payment you can keep the plan the rest of your life

    Medicare Advantage-

    - $0 or very low monthly premium
    - However, the max out of pocket expenses can be $6,700 per year
    - There is a network
    - The benefits and network can change from year to year
    Answered on August 23, 2014
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