Most people's familiarity with Medicare and Medigap insurance is pretty limited before they find themselves trying to decide on their plans. Some people are lucky enough to help aging parents navigate the process, learning something about it along the way. However, the limited exposure to this coverage and the supplemental options can often lead to mistakes because of common misconceptions. Here are some key facts that you need to know when it comes to Medigap coverage selection.
You Can Change Medigap Coverage Any Time
You may think that Medigap coverage is restricted like your Medicare coverage so you can only change it during open enrollment. The truth is that you can change your Medigap coverage at any time and for any reason. It is important to note, however, that changing your coverage outside of open enrollment periods or guaranteed acceptance periods may leave you facing medical questions and the potential for coverage denial.
Medigap Plans Don't Come With Predetermined Doctors
Another common misconception about Medigap plans is that you'll have to follow their network list of doctors if you want to use the coverage. This isn't the case either. In fact, Medigap plans are accepted nearly anywhere that Medicare coverage is. That means you can keep seeing the doctors you've built a relationship with, even with your Medigap plan.
Medigap Plan Prices Vary From Carrier To Carrier
You might think that the cost of Medigap coverage is standard from carrier to carrier, which would mean that it doesn't matter who you get your coverage from. However,, this isn't actually the case. The coverage offered under Medigap plans is typically standardized, but the premiums are not. If you want to be sure that you're getting the best possible price for the Medigap plans that you choose, talk with an independent agent who can help you explore different providers.
Medigap Doesn't Cover Your Prescriptions
Even if you have Medigap coverage, you'll still need to make sure that you get Medicare prescription drug coverage. Many people mistakenly believe that Medigap coverage will include their prescriptions, but it does not offer any coverage for medications.
These are a few of the most important facts to know when it comes to Medigap insurance coverage. Before you make any selections, you should talk with an independent agent in your area to see what kinds of Medigap policies there are for your current situation. That way, you can get the coverage that you need with ease.
To learn more about Medigap plan solutions, reach out to a local service.Share