What is the difference between a Medicare Supplemental Plan and a Medicare Advantage Plan?
A. A Medicare Advantage Private-Fee-for-Service Plan is a health plan offered by private insurance companies under contract with the Medicare program. It requires your health care provider to participate in the Medicare Advantage plan you have chosen or your claims will NOT be covered. Some Medicare Advantage plans have an “out of pocket cost” of $5,000 or more per year. Medicare Advantage plans may cost less than a Medicare Supplemental plan, but they do not offer the same benefits. Finally, the North Carolina Department of Insurance has no regulatory authority over Medicare Managed Care plans.
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