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What Happens To My Medigap policy If I Get Medicare Advantage?

Medicare Advantage And Medigap Together

If you buy a Medicare Advantage plan with your Medicare or Plan C, once this plan goes into effect you will no longer be able to receive any benefits under your Medigap policy. Medicare does not allow you to receive double benefits, which is what would happen if you were to receive benefits under both plans.

Medicare Advantage

Medicare wants you to make a choice between these types of plans. Medicare Advantage plans have to provide a minimum set of coverage set up by Medicare. These plans tend to be with HMOs such as Kaiser or PPO’s such as Aetna. Clients under these plans usually have to pay co-pays and often have to meet a deductible. Senior Advantage Plans clients pay some fees monthly to the plan and some fees when they receive care.

Medigap

Medigap policy choices range from A through L. These A through L plans simply offer different coverages to their clients. Medigap policy plans usually don’t have a co-pay. Your fees are paid in your monthly payment for these plans. Under a recent law change, you cannot be sold a Medigap policy if you have a Medicare Advantage Plan. This is something you need to consider with your planning.

Medigap Policy Length

Medigap policy regulations usually require you to sign up for a complete calendar year. There are a few circumstances in which you can change plans during the year, but don’t count on these. If you are purchasing your plan through an employer, you will need to follow their guidelines as well.

Who To contact to Sign Up For A Coverage

Medicare will not sign you up for private health plans, so you must contact the company on your own or go through an insurance agent. There is no benefit in carrying both a Medigap policy and a Medicare Advantage policy. Select one or the other, otherwise you will just be wasting one of your monthly fees.

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