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What is the difference between Medicare Supplements (Medigap) and Medicare Advantage?
You must have Part A & Part B to purchase a Medicare Supplement. A Medicare Supplement is a plan that you buy from an insurance company that will pay what original Medicare Part A & B doesn’t pay.
A Medicare Advantage plan, frequently called a “Part C”, depending on where you live, is very inexpensive or may cost nothing at all. Medicare Advantage is combined with the insurance plan, as is your Part D coverage (prescriptions). You may pay one flat premium, and then pay co-pays at the time of service, up to an out of pocket maximum
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Do Medigap policies differ from carrier to carrier?
No, every medigap policy with each carrier must follow federal and state laws designed to protect you. It is identified as a Medicare supplement insurance. supplement plans a-n offer basic benefits but some offer additional benefits, so you can chose which fits your needs best. No matter what carrier you choose, Plan F is Plan F, plan g is plan g . In the states of Massachusetts, Minnesota, and Wisconsin, Medigap policies are standardized in a different way.
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Why are premiums different between each carrier for the same plan?