You Are Still Part of Medicare: You must have Original Medicare (Part A and Part B) in order to apply for a Medicare Supplement Plan.
Fills In The Gaps Of Medicare: Medicare Supplement plans are specifically designed to pay some or all of the costs left behind by Original Medicare. These costs include the deductibles, co-pays, coinsurance, and excess fees that Medicare does not cover.
No Networks: It doesn’t matter which insurance company you have your Medigap plan though… you can simply use any doctor or hospital anywhere in the country that accepts Original Medicare. So whether you have the Blue Cross Blue Shield Plan G or the Mutual of Omaha Plan G, your network is exactly the same!
No Referrals Needed: Medicare supplement plans do not require a referral to see a specialist. You have the choice to see any specialist in the country who accepts Medicare regardless of which insurance company you have your coverage through.
Plans Are Standardized: Medicare predesigned 10 different Medicare Supplement plans that they allow insurance companies to sell. Each of these pre-designed plans in named with a letter such as Plan G or Plan N. This means that the coverage provided by a supplemental plan, such as Plan G, is always exactly the same no matter which company you choose. Simply put, it doesn’t matter which insurance company you get your coverage though, Plan G is always Plan G and Plan N is always Plan N.
Prices Will Vary: When you start shopping for a Medicare Supplement plan the first thing you will notice is that insurance companies will charge wildly different prices for the exact same coverage. In the same way that stores such as Walmart or Target will charge different prices for the exact same can of Campbell’s chicken noodle soup… insurance companies will charge different prices for the exact same Plan N or Plan G coverage.
The premiums that companies charge for new applicants are based on your age, sex, tobacco use, zip code, and other discounts. It is important to get a rate comparison of all the top companies in your area in order to find the best deal available on your new supplemental coverage, especially since each insurance company is providing the same benefits.