The advantages to being enrolled in Medicare Parts A and B are vast and beneficial, but when is it necessary to start considering additional options? While at the core, Medicare Part A and B's abilities to cover a wide range of medical costs including doctor visits, ambulance services and health equipment may seem like everything you need can be taken care of, there are plenty of other risk and factors that need to be taken into account when choosing whether or not to increase aid and coverage.  

First off, the reason choosing a Medigap or Medicare Advantage policy can help save you money is through helping eliminating the out of pocket costs that arise through only being enrolled in Medicare Parts A and B. These unforeseen expenses generally arise from the left over 20 percent of charges patients are supposed to cover themselves after the 80 percent deductible from Part A or B has been accounted for. For instance, if your X-ray exam costs $250, you will pay $50 if you are only using Medicare Part A and B services.

Enrolling in Medigap is where eliminating these abrupt and unexpected finances comes in handy. Remember, Medigap is essentially paying a monthly premium to a private insurance agency while still being enrolled in Medicare Parts A and B. When questioning whether spending that additional monthly premium for Medigap is worth it or not, consider that leaving yourself susceptible to 20 percent of out of pocket costs can result in unanticipated spending, especially if multiple trips to the doctor or emergency room arise.

Another beneficiary of Medigap is for travelers who frequently voyage out of the country. If you are paying a yearly deductible of $250 a year for Medigap, then that premium will cover 80 percent of your medical bills sustained outside of the country, where as Medicare Part A and B cannot cover any of the foreign costs. The only thing to take into account is that the medical emergency must arise within your first 60 days of travel, otherwise no coverage is provided.

Medigap vs Medicare Advantage  
The differences between these two policies has been difficult to define which is the right choice for users when analyzing each plan at a glance. Medigap is essentially catered for customers being able to pick and choose between 10 variations of plans to suit their specific needs, while Medicare Advantage is focused more on providing coverage for elements that Medigap has no control over, such as prescription drugs, hearing or vision services.

Medicare Part D is the premiere source for assuring financial aid with prescription drugs, and is a compatible service with Medigap. However, those enrolled in a Medicare Advantage plan cannot legally purchase a Medigap policy, which is where users will have to carefully review whether or not Medicare Advantage or Medicare Part D prescription drug coverage best serves their requirements.

The best way to evaluate which specific plan works greater for the coverage you need is through visiting the Medicare Plan finder, where you can scroll through all the policies available in your zip code and compare rates and coverage.