Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
No. Medicare Part C is Medicare Advantage coverage - these plans work similarly to traditional under 65 health plans (meaning you can be responsible for coinsurance, copayments, deductibles, etc.).
A Medigap plan (also known as Medicare supplement plans) works WITH original Medicare (Parts A & B) to fill the "gaps" that it doesn't cover. Original Medicare covers about 80% of your healthcare expenses. A Medigap plan can cover a portion or all of the other 20%, depending on which Medigap plan you get (there are a total of 10 different plans available - A, B, C, D, F, G, K, L, M, and N). Medigap plans do not restrict you to networks, you don't need referrals to see specialists, and any doctor that accepts Medicare will accept the Medigap plan. You can also apply for a different plan at any point throughout the year (if you want a different carrier or different benefits), and they are guaranteed renewable!
Please feel free to contact me for further assistance. Thanks very much.
Independent Agent & Medicare Supplement Specialist, reMEDIGAP, USA
Medigap and Part C are not the same.
Medigap is supplemental coverage to your Original Medicare Part A and B. You don't have to buy a Medigap Plan, it is optional. Many people, however, use the Medigap Policy to help cover the 20% of Medicare approved costs not covered by Part A and B. Medicare Supplement insurance is private insurance in which you pay a premium every month. You are allowed to visit any provider who accepts Medicare.
Part C is called a Medicare Advantage Plan. It acts like an HMO or PPO, so you are restricted to using network doctors. This type of Plan combines Part A, Part B, and usually Part D (drug coverage).
It's important to note, if you join a Medicare Advantage Plan, you don't need and can't be sold a Medigap Policy. In other words, you can't buy a Medigap Policy to supplement your Part C (Medicare Advantage Plan).
Thank you for taking the time to read my reply. Please let me know if I can be of further assistance.
Part C of Medicare allows health insurance companies to provide Medicare benefits. These health insurance plans offered by insurance companies are referred to as Medicare Advantage Plans. They are managed health care plans such as HMO's and PPO's These plans have network restrictions which means they have doctors and hospitals they want you to see to receive your medical care from. Medicare Advantage Plans must offer the same benefits as Original Medicare but they do not have to cover every benefit the same way. These plans can have higher out-of- pocket costs than Medicare for some benefits and are required to limit out-of-pocket cost to no more than $6,700 in a calendar year.
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A Medigap plan (also known as Medicare supplement plans) works WITH original Medicare (Parts A & B) to fill the "gaps" that it doesn't cover. Original Medicare covers about 80% of your healthcare expenses. A Medigap plan can cover a portion or all of the other 20%, depending on which Medigap plan you get (there are a total of 10 different plans available - A, B, C, D, F, G, K, L, M, and N). Medigap plans do not restrict you to networks, you don't need referrals to see specialists, and any doctor that accepts Medicare will accept the Medigap plan. You can also apply for a different plan at any point throughout the year (if you want a different carrier or different benefits), and they are guaranteed renewable!
Please feel free to contact me for further assistance. Thanks very much.
Medigap is supplemental coverage to your Original Medicare Part A and B. You don't have to buy a Medigap Plan, it is optional. Many people, however, use the Medigap Policy to help cover the 20% of Medicare approved costs not covered by Part A and B. Medicare Supplement insurance is private insurance in which you pay a premium every month. You are allowed to visit any provider who accepts Medicare.
Part C is called a Medicare Advantage Plan. It acts like an HMO or PPO, so you are restricted to using network doctors. This type of Plan combines Part A, Part B, and usually Part D (drug coverage).
It's important to note, if you join a Medicare Advantage Plan, you don't need and can't be sold a Medigap Policy. In other words, you can't buy a Medigap Policy to supplement your Part C (Medicare Advantage Plan).
Thank you for taking the time to read my reply. Please let me know if I can be of further assistance.