Medicare supplement plans are sold at the discretion of the insurance company. Though they are subjected to certain rules and regulations by the State law yet if they comply with those rules, they are entitled to sell whichever policy they like. The policy that these companies will be selling you depends on the geographical region. Though the content of different Medigap plan is the same across all the States in a particular State, it might happen that the companies do not offer certain plans at all.
This might create confusion among the customer regarding the availability of a particular plan in a particular region. So, the solution for you is to take the help of Medicare website. There you will be able to enter your region’s Zip code and check what all policies the insurance companies of your region are providing. This will help you to eliminate any ambiguity about the availability of a particular policy which you might want for yourself. You can also check the availability of a Medigap policy depending on your health status. If you have a medical condition certain policies will not be applicable in your case.
Which policies you should not mix with Medigap?
There are certain Medicare policies which are often misinterpreted as Medigap plans. This is the case where people think that since they are getting some extra benefit than what they were getting from the Medicare Advantage Plan then surely it should be a Medigap policy. But this is not the case every time. Even though some policy might be providing you something extra they cannot be confused with Medigap policies. Here are the few examples which are not Medigap:-
- Prescription Drug plans- it covers your expenses relating to the regular purchase of prescription drugs.
- Union plans which also include FEHBP.
- Long-term insurance policy.
Is it really beneficial to have Medicare supplement plans?
Whether it is beneficial for you to purchase such a plan will entirely depend on your requirements. You have first to see whether the coverage that you require is given by the Medicare Advantage Plan or not. But since all these policies are standardised by the government, any extra requirements will have to be met by purchasing Medicare Supplement Plans.
These plans are made specifically for the purpose of meeting your coverage demand which is not satisfied by original Medicare Advantage Plans. Whether you need extra travel risk coverage or just want to save money on drugs, Medigap plan is perfect for you.