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Medigap is officially called Medicare supplement insurance. To buy a Medigap Insurance plan one must have Medicare Part A and Part B. The options available to you with Medicare Advantage plans or Medigap policies depends on where you live which is not the same in case of traditional Medicare. Thus it is advisable to look for plans available near your location and that matches your specific requirements when making a choice between a Medicare Advantage plan and Medigap policy. As per regulation an individual who has a Medicare Advantage plan cannot purchase a Medigap Insurance plan. Medicare Advantage plans which are usually health maintenance organizations or HMOs must provide similar coverage as that of traditional Medicare. However, both the plans demand different co-pay amounts and can also give some added coverage. Thus benefits like vision, dental or drug coverage may also be provided. Apart from the Medicare Part B premium a beneficiary also has to shell out premium for extra coverage benefits or for lower co-pays. Medicare Insurance plan has deductibles, copayments, coinsurance, and restrictions on how much Medicare will contribute towards the medical costs. Such a lacuna in coverage can mean a substantial amount of payment and Medicare supplement insurance or the Medigap Insurance Plan provides an opportunity to buy additional insurance to seal these gaps. Medicare Insurance plan entails that Medigap insurance companies sell only standardized Medicare supplement plans. Medigap insurers do not get any government subsidy unlike Medicare Advantage providers. To purchase a Medigap policy one must get enrolled in Medicare Parts A and B. These supplemental policies encompass some of the out-of-pocket Medicare costs, like Part A hospital deductible and the 20 percent that you need to pay for doctor visits and other outpatient tests or treatments. Medigap policies can be categorized into 11 types and each policy is tagged by a letter from A through N. The benefits offered by each of the plans are same irrespective of the insurer. The only thing that can be different is the premiums and service offered by the provider. Medigap policies do not include dental care, hearing aids, long-term care, prescription drugs, private-duty nursing, vision care and eyeglasses. One must enroll in a Medicare Part D prescription drug plan in along with your Medigap policy to get drug coverage. Most Medicare Advantage plans give prescription drug coverage and few of them do not charge any extra premium. A Medigap policy gives you the advantage of accessing any health provider who acknowledges Medicare Insurance plan, without any need for referrals from specialists. Most of the Medicare Advantage plans use Health Maintenance Organizations or Preferred Provider Organizations that have a network of providers. If you’d like to Evaluate the advantages of Medicare and Medigap Insurance plan provided by Medigap4seniors for seniors peoples! Please visit us @ Medigap4seniors.com or E-mail @ joe@cmsinsurancemarketing.com. You may call us @ 888.502.5553.
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