Some people think Medigap is better than Advantage plans, but you decide.
Medicare + Medigap allows you to use any doctor, anywhere in the United States.
Most Advantage plans require you to use their doctors, or else pay a penalty.
Medicare + Medigap with most plans (F, G, N) means less than $500 out of pocket during the year in most situations. Even with Hi F your out of pocket is capped at $2110 for 2013.
Advantage means $2700 - $6700 out of pocket per year.
Medigap and Med Advantage plans are SIGNIFICANTLY different. For a MedAdvantage Plan, they are basically like an HMO. You have a primary physician who is essentially the gate keeper. You do need referrals and you do have co-pays. A Med Advantage plan does also contain a drug plan component, which the supplements do not. If you have significant health issues, than of course the co-pays can add up, however the monthly premium is usually significantly less than the average Medigap plan.
Medigap Plans again, are significantly different. The coverage provided by a Medigap Plan is dependent upon what plan you get. The plans are all identified by a corresponding letter. For example, an F Plan tends to offer the most solid coverage, but of course the price is among the highest as you'd expect. Each lettered plan is written and designed by the government, so no F Plan is different than another, no G is different than another G, etc etc. What is different is what each individual insurance company charges for the play. So it's not uncommon for company A to charge 1 price for an F Plan, and companies B, C, D, & E all have significantly different prices for the exact SAME COVERAGE.
One thing that I would do is make sure you understand how each lettered plan works, because the difference in coverage can be quite significant. For example, make sure you understand exactly what a "Part B Excess Charge" is. In some states, such as PA, they are illegal, but in my state, which is NJ they are perfectly legal. If you purchase a plan that doesn't cover the Part B Excess Charge, you could find yourself pleasantly surprised by a significant bill if you ever have a major procedure done.
Medigap Plans DO NOT come with a drug plan, or vision plan or dental. A Drug Plan is the only one you are REQUIRED to get, or you could face a penalty by the government. But again, the drug plan must be purchased on the side, as there is no such thing as a Medigap that comes with a drug plan.
.JPG){kind=avatar}
Medicare + Medigap allows you to use any doctor, anywhere in the United States.
Most Advantage plans require you to use their doctors, or else pay a penalty.
Medicare + Medigap with most plans (F, G, N) means less than $500 out of pocket during the year in most situations. Even with Hi F your out of pocket is capped at $2110 for 2013.
Advantage means $2700 - $6700 out of pocket per year.
Medigap Plans again, are significantly different. The coverage provided by a Medigap Plan is dependent upon what plan you get. The plans are all identified by a corresponding letter. For example, an F Plan tends to offer the most solid coverage, but of course the price is among the highest as you'd expect. Each lettered plan is written and designed by the government, so no F Plan is different than another, no G is different than another G, etc etc. What is different is what each individual insurance company charges for the play. So it's not uncommon for company A to charge 1 price for an F Plan, and companies B, C, D, & E all have significantly different prices for the exact SAME COVERAGE.
One thing that I would do is make sure you understand how each lettered plan works, because the difference in coverage can be quite significant. For example, make sure you understand exactly what a "Part B Excess Charge" is. In some states, such as PA, they are illegal, but in my state, which is NJ they are perfectly legal. If you purchase a plan that doesn't cover the Part B Excess Charge, you could find yourself pleasantly surprised by a significant bill if you ever have a major procedure done.
Medigap Plans DO NOT come with a drug plan, or vision plan or dental. A Drug Plan is the only one you are REQUIRED to get, or you could face a penalty by the government. But again, the drug plan must be purchased on the side, as there is no such thing as a Medigap that comes with a drug plan.