It is easy to get confused about all the plans and regulations that surround both the Medicare and Medicare Supplement plans (also called as Medigap plans). With so many do’s and don’t being discussed every year to new clients, we thought it is a good idea to share it with you in advance. Knowing which beliefs are just myths will help stir away from making a mistake upon enrollment or even during the coverage.
No. Prices vary greatly from one insurance to another. Let say Company X sells Medigap Plan F for $200 while Company XY sells it for $300, both offer the exact same benefits of Plan F. Since the types of Medigap plans are standardized, insurance companies sell the exact same benefits of the different types of Medigap insurance but with different prices.
You can request Medicare Supplement quotes to compare prices from various providers or hire a licensed insurance agent to help you throughout the process.
No. You don’t have to wait for a certain time. As long as you are under its coverage, you can switch your Medigap plan any time of the year.
People who have Medicare Advantage plan or have Part D Prescription Drug Plan are the only ones who are required to do this during Annual Enrollment Period.
Probably, because of a lot of advertising done during this time, people came to believe this myth.
As long as your Medicare is partnered with a good Medicare Supplement plan, it can be considered as a great health insurance plan. Like the most of the employer group plan, most of Medigap plan types don’t have coinsurance and high deductibles. Sometimes, Medigap plans are even better than what you are getting from your employer.
You don’t have to be conscious or worry about networks or if your doctor is covered because Medigap plans do not have any. That means you can freely choose any doctor or hospital in any state, as long as they take Medicare. They will also take your Medigap plan regardless who the carrier is.
Networks are only for those who have Medicare Advantage plans.
The services of an agent are free!
You will spend the same amount of money either you go straight to the insurance company on your own, or use an agent to help you throughout in the process.
The advantage of having an agent is that there is someone who will explain everything you need to know about Medicare Supplement plans. He will clear misconceptions and myths that you might be believing right now. He will also help you choose the best plan that will fit your needs. In short, you’ll have someone you can rely on in order to have a Medigap policy.
It is the insurance company that pays the agents for getting you a policy.
There you have it! I hope I cleared some clutter in your mind about Medigap. If you wish to learn more about Medigap plans, just head to freemedsuppquotes.com for more information.