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Help you navigate the Medicare Insurance maze.

As a Medicare beneficiary or someone who is shopping for your older parents, you probably understand the importance of good healthcare coverage. Handling doctor bills, hospital bills, and other healthcare-related expenses aren’t cheap, and it’s important to have help. Although you or your parents might have Medicare, it might not be enough. You have probably heard about supplemental insurance plans, such as Plan A or Plan C, but you could be unsure about what these plans are or whether or not you need one. Luckily, learning more about various types of Medicare plans, including Plan D, Plan F, and Plan G, can help you make the right decision, and My Medigap Plans is here to help you along the way.

What are Medigap Plans?

If you’re on  Original Medicare Part A and B, then you probably know how much copays and deductibles can add up. Even though Medicare covers a lot of things, it certainly doesn’t cover all medical expenses. Luckily, Medicare supplemental plans can help pay for all of these extra costs. Basically, these plans serve as private insurance to pick up the slack that Medicare doesn’t take care of.

What is the Difference Between Different Types of Medicare Supplement Plans?

If you have been shopping around for supplemental insurance, you might have noticed that you have two choices. Your options are Medicare Advantage and Medicare Supplement, and you could be unsure of which is your best choice. Therefore, it’s important to learn a little more about the differences between the two.

  • Medicare Supplement Insurance – With a Medicare Supplement plan, you still maintain your original Medicare plan. However, you will have additional insurance coverage, which will cover extra deductibles, copayments, and other medical expenses. For example, Medicare might cover 80% of the costs, and your supplemental insurance plan might cover the 20% that you would otherwise have to pay.
  • Medicare Advantage Insurance – When you switch to a Medicare Advantage plan, you transition completely to private insurance. Although your private insurance company will still cover all of the ordinary things that Medicare covers, but it covers additional costs as well. This is very similar to having original Medicare and an additional supplemental plan, but it’s handled a little bit differently.

Which Option is a Better Choice?

Both Medicare Advantage and Medicare Supplement insurance plans can be a great choice. With Medicare Supplement plan F or Medigap plan G, you can see pretty much any doctor that you want; with Medicare Advantage, however, you will generally be restricted to a certain network. Medicare Supplement plans generally don’t change as frequently; all you can expect is minor rate changes every now and then. Another good thing about a Medicare Supplement plan, is the fact that you can purchase additional plans to get all of the coverage that you need; for example, you can invest in a Medicare Part D plan to help pay for your medication, or you can opt for other additional coverage to cover hearing, vision or dental. However, you might find that Medicare Advantage is a simpler plan that covers everything under one policy. By comparing the prices of different types of plans and learning a little more about what each plan offers, you can make the right decision for you.

How to Find an Affordable Medigap Plan

Regardless of the type of plan that you are shopping for, My Medigap Plans can help you compare Aetna, Cigna, Florida Blue, Mutual of Omaha and more. At My Medigap Plans, we have done all of the hard work for you, and we have compiled information from all of the best companies out there. If you are looking for a fast and easy way to compare rates and benefits of different plans, select your state from the drop-down menu. Then, you can find out more about your options, you can begin answering health questions, and you can start looking for the right plan for you. If you do, you’ll find that getting quotes and starting the enrollment process will be a breeze. In no time, you will have the additional coverage that you need to help take care of all of your medical-related expenses.

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Talk to one of our licensed insurance agents about your Medicare Supplement and Medicare Advantage plan options.

Medicare Supplement Plans

Some of the best Medicare Supplement plans provide additional security against the high cost of health care. More than 13 million Medicare beneficiaries have Medicare Supplement insurance to help with their out of pocket costs.

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Medicare Advantage Plans

If you enroll in a Medicare Advantage plan, you’re still enrolled in Original Medicare; however, a private insurance company will deliver your benefits with a Medicare Part C plan.

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Medicare Part D

Medicare Part D is the part of the federal Medicare program that offers beneficiaries protection against high prescription drug costs. Private health insurance companies approved by Medicare administer Medicare Part D.

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Medicare Supplement Companies

We only work with the top Medicare insurance companies

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Medicare Enrollment Periods

  • You can make changes to your coverage during the Annual Enrollment Period, such as:
  • Switching from a Medicare Advantage health insurance plan to Original Medicare Parts A and B, or vice versa.
  • Enrolling in a new Medicare Advantage plan
  • Enrolling in a new Medicare Prescription Drug Coverage plan
  • If you did not enroll in a Prescription Drug Coverage Plan when you were first eligible for Medicare, you can sign up during the Open Enrollment Period. A late enrollment penalty may apply if you sign up during the Medicare Enrollment Period instead of during your Initial Enrollment Period, though.

Why Should I Enroll in Medigap During My Open Enrollment Period?

The day after you turn age 65 and are enrolled in Medicare Part B, your six-month Open Enrollment Period will begin. During this period, federal law states that insurance companies cannot reject your application for any Medigap plan due to pre-existing conditions or disability; this is known as having guaranteed issue rights. Additionally, they cannot charge a higher premium due to your current health status.

Continue reading about Medicare Open Enrollment Information.

Can I Keep My Same Providers?

  • With a Medicare Supplement Plan, you can use any doctor that excepts Original Medicare. Medicare Supplement Plans DO NOT use there own provider networks, these plans will give you the most network freedom.
  • With a Medicare Advantage Plan, you must use in-network providers. You will need to verify if your current providers are apart of the Medicare Advantage Plan you are considering enrolling in. If current providers are not, then the member must be willing to change to receive covered services