Medicare Advantage Plans and Medigap Insurance Plans both expand the coverage available through Original Medicare, but where you live can affect the choices you may have. Advantage Plans are not available everywhere, but at least some of the 10 Medigap Plans are typically available throughout the entire state no matter which state you call home.
When multiple Medicare Advantage Plans are available in your area, remember that these plans all have different rules and may cover different medications. It’s always important to read the coverage and confirm whether your prescriptions are covered.
Medigap insurance or Medicare Supplement Insurance, on the other hand, is standardized so every plan with the same letter (such as Medigap Plan F) does have the same rules and the same benefits. That makes it easier to compare these plans. Plan A always has the least amount of benefits and Medigap Plan F has the most comprehensive coverage.
Even though benefits are standardized, prices can vary drastically. You’ll need to get several quotes from different insurance companies to find the best value. One shortcut that can help you identify the plans that best fit your needs for the lowest price is to request our help comparing plans in your area. Here on our website, you can learn about how Medicare Advantage Plans and Medigap Insurance Plans complete your Medicare coverage. Just give our friendly receptionist a call if you have questions or would like our professional opinion on which plan fits your situation best.
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.