Let’s Talk Medicare Supplement

Published 12:40 pm Tuesday, February 21, 2023

Medigap or medicare supplement insurance inscription and stethoscope. Medicare Stock Photo


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By Fair Square

Retiring in Virginia is an attractive option, as the state is home to nearly 9 million residents, with a significant portion of them being seniors over the age of 65. With the increasing number of Baby Boomers reaching retirement, discussions about the future of Medicare have become more prevalent. The popularity of Medicare Advantage plans has been growing compared to Medicare Supplement (also known as Medigap) plans. Although it probably comes as no surprise as it’s not uncommon to see numerous advertisements promoting Advantage plans during your evening news program.

Think Twice About Advantage Plans

The rapid growth of Medicare Advantage plans in recent years does not guarantee its uninterrupted growth in the future. In fact, these plans have come under intense examination due to instances of large-scale fraud, where plans have an incentive to receive more funding for treating sicker patients. At Fair Square, we don’t view Medicare Advantage plans as inherently flawed, but rather, they are frequently misperceived. While they can be a suitable option for some, we often advise our clients to consider a Medicare Supplement plan instead. To aid in this process, we’ve developed an easy-to-use tool that helps people new to Medicare compare and choose the best Medicare Supplement plans in Virginia. Our page provides comprehensive information about Medicare Supplement plans.

The Good in Plan G

For those eligible for Medicare after 2020, Medicare Supplement Plan G provides the most extensive coverage in conjunction with the top-notch network. Some Medicare Advantage plans might claim that they are always more affordable than Medicare Supplement plans, basing their argument on monthly premium costs. While it’s true that many Medicare Advantage plans have no added monthly premiums, in the long run, Plan G can offer more savings. As you age and your healthcare costs rise, you may end up paying more for the same procedures with Advantage plans than you would with Plan G.

Another reason people opt for Medigap plans is the extensive network, considered the best in Medicare. The network coverage can vary depending on the Medicare Advantage plan you choose. While an HMO plan may offer lower monthly premiums, it also has the most limited network, often preventing you from seeing a doctor outside the network without incurring out-of-pocket costs. PPO plans offer some additional flexibility, but at a higher cost for accessing care outside the network. With Medicare Supplement plans, the network encompasses all doctors accepting Medicare, which represents over 90% of physicians nationwide, offering you the freedom to seek care elsewhere if necessary, while still being covered by Medicare. There’s no need to weigh the pros and cons of HMO vs. PPO when Medicare Supplement offers a clear advantage in terms of network coverage.

You might assume that Medicare Advantage plans are the only way to access benefits commonly offered by private healthcare plans, like vision and dental. While it’s true that Medicare Supplement plans don’t provide these extra benefits, the benefits included in Advantage plans might not be worth the trade-off. For example, Flex Cards offering grocery stipends may seem appealing, but if you end up spending more money to meet your out-of-pocket maximum, which is not a concern with Plan G, then you may not be saving any money. If you prefer a Medicare Supplement plan but still require dental and vision coverage, there are affordable options available through non-Medicare plans that can fit within your budget. At Fair Square, we can assist you in finding the right combination of plans to meet your needs.


To complement your high quality of life during your golden years, you deserve high-quality healthcare. At Fair Square, we believe that for many of our Medicare beneficiaries, the best choice is Plan G. Our knowledgeable team can help guide you through the complex process of selecting a Medicare plan that fits your unique healthcare needs and budget. Start and end your golden years with peace of mind, knowing you have access to the best possible care.