Unlike Medigap plans, Medicare Advantage plans are not standardized to offer the same benefits. Medigap plans have been organized into benefit packages that are identified by letter.
Medigap Plan F, for example, always includes the same comprehensive coverage whether AARP provides it or a much smaller, less well-known insurer offers it. With Medigap Insurance, the only difference is in the cost of the premiums.
All the Medicare Advantage plans, on the other hand, have different rules set by different insurance companies. Some plans cover different medications so you have to check to see whether your prescriptions are covered every time you switch Medicare Advantage plans.
Medicare Advantage plans have different restrictions and rules, too. These plans typically only work with doctors and hospitals in smaller regions, where as Medigap plans have much broader coverage areas. With all these inconsistencies, why are Medicare Advantage plans still popular? They offer some of the least expensive ways to complete Medicare’s coverage. See if there’s a Medicare Advantage plan available where you live right on our website.
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.