There are numerous myths out there, either through misinformation or just incorrect assumptions, which can lead to poor health care choices when it comes to Medicare Supplement Insurance (Medigap). Here are some common myths that you should know about Medigap.
The first myth is that you can change Medigap Plans only during certain times of the year. That’s just not true. There’s no annual open enrollment for Medigap. If you see a rate increase in your plan, you can switch to another company offering a lower rate at any given time as long as you are reasonably healthy. Companies do use medical underwriting to evaluate your health when you change.
Another common misconception is that Medicare Plan F is always the best plan because most insurance companies promote this plan. Plan F offers the most comprehensive coverage, but there are other plans that might suit your health care needs and budget better. Since preventive care is completely covered with a couple of caveats, you may save more with Medigap Plan G. The caveats are you need a doctor who accepts Medicare and preventive care is not free if it’s billed as being diagnostic.
Finally, Medigap Plans are not the same as Medicare Advantage Plans. Advantage Plans totally replace Original Medicare. Medigap Plans supplement Medicare. Either kind of plan can reduce the out-of-pocket costs you’ll find with Medicare alone. With many years of experience helping people manage their medical bills, we can help you compare the options available in your state. Our help is confidential and there’s never any charge, either. Get to know us better by joining the next Question and Answer Teleseminar. It’s free to register here and then you can ask questions or just listen to what others are asking about both Medicare Advantage Plans and Medigap Plans.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.