Medigap gives you total independence to go wherever they accept Medicare without worrying about any additional unforeseen charges, and this does come with the upfront price, but it gives many people peace of mind. This is often referred to as "pay upfront and forget about it, or pay as you go." It is important to note that a good agent will evaluate the carrier's past history and can give you a report of the premium increases they have had, often they have had them, and the rate within the health industry that they carry. This is important when you first begin your insurance coverage.
Not necessarily, but the freedom and flexibility might not be essential if you just want to make sure you have emergency and urgent care which many Medicare Advantage Plans offer worldwide. So if you want to save the monthly premium and have peace of mind when you travel, a Medicare Advantage Plan might work for you.
It really depends on where you’re traveling to. Many of the Medicare advantage plans work in most if not all states. The Aetna elite plan works in all 50 states I have found.
So the answer your original question is yes you probably could’ve done better with a Medicare advantage plan without a premium and most charges covered as long as you stay within network, but their network covers all 50 states
The type of coverage, Supplemental (Medigap) vs. Advantage, costs, and your value system are very personal decisions. Everyone's circumstances are different. If the cost of your Medigap plan is becoming a burden or it no longer fits your lifestyle, I recommend a review with a local, licensed broker in your area. If appropriate, you can switch to an Advantage Care plan during the next annual enrollment period.
I would not say you made a mistake, everybody's situation is different, and comes with unique needs. I recommend working with a local advisor who can help you evaluate your specific circumstances and explore all of your options so you can make an informed decision that is right for you.
Medigap plans can be more expensive than Medicare Advantage plans, but Medigap policies cover all the areas where Medicare has limitations, which is beneficial for travelers. Medigap might not always be the best choice for everyone.
Medigap policies can be expensive. Keep in mind that coverage would be in effect if you have an emergency when traveling and holding a Medicare Advantage policy as well. However, if you need ongoing medical care while traveling a Medigap policy is probably the right decision even though the cost may be higher. The question is how much do you travel, how long are you in a particular location at one time and how much medical care do you need? If you travel to a particular location for a period of time like a few months, there are some Medicare Advantage providers that offer a passport option where you can transfer coverage to that particular location as long as they are notified ahead of time. If you are thinking about this option, it's always a good idea to verify coverage protection with the Insurance carrier in the other location you plan to visit.
It depends. The questions does not state the destination of the travel , whether it is in the U.S. or outside the boundaries of the U.S. Medicare supplement plans C, D, E, F, G, H, I, J, M, and N pay up to $ 50,000 for costs involved in medical care abroad for an emergency. Within the United States a Medicare supplement provides coverage throughout the country as long as a provider accepts Medicare. Many Medicare Advantage plan networks also provide national coverage and many plans also have out of network coverage and generally speaking Medicare Advanatge plans are less costly than Medicare Supplements even though they have greater restrictions.
I do not believe you made a mistake choosing a Medigap insurance policy since you travel a lot. Unfortunately, Medigap policies do go up as you age and the insurance companies will adjust rates based on their claims history. Consult with a broker to find a different Medigap plan with lower rates. If you can pass underwriting, your policy change should be easy.
Issuance and sales of Medigap (Medicare Supplement Insurance) plans are regulated by States, which have varying laws 'bluesky' like guaranteed issue rights, marketing, commissions, etc. And, depends on the medigap plan (A to F) you are subscribed with. For instance, the foreign travel benefit pays 80% of charges after the $250.00 deductible, up to a $50,000.00 lifetime maximum. Your premium depends on the plan you acquired.
Not at all, you made a smart choice based on your lifestyle! Medigap is great for travelers because it offers flexibility and fewer restrictions, especially nationwide.
Yes, the premiums are higher, but you get predictable costs, no networks, and peace of mind wherever you go. If your needs or travel plans have changed, it might be worth reviewing your options to see if a more cost-effective plan fits your current situation better. Want to chat about it?
If you sign up with a Medicare Advantage plan that are based on zip code, so if you need medical care and are out of the network you would have to pay out of pocket and that could cost alot more..
