I went with Medigap because I travel a lot, but now I'm paying a fortune in premiums. Did I make a mistake?
Answered by 11 licensed agents
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.
Answered by Larry Dalton on April 3, 2025
Broker Licensed in OK & TX
You can always reapply for lower premiums with a different carrier. The coverage would remain the same if you qualify.
Answered by Nikki Rowland on April 23, 2025
Broker Licensed in SC & NC
You can can change to a Medicare advantage plan during Annual Enrollment. The premium is $0 but you will have copays and a book or doctors.
Answered by Tom Rogala on April 3, 2025
Agent Licensed in MI, AR, AZ & 10 other states
No, that’s a great idea but if you are healthy, it’s time to see if you can get more cost effective coverage.
Answered by Shelly Hefley on March 28, 2025
Broker Licensed in IN, AL, IL, KY & TN
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.
Answered by Vachik Chakhbazian on April 13, 2025
Agent Licensed in CA, AL, AR & 22 other states
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.
Answered by Mel Stevens on April 8, 2025
Broker Licensed in AZ
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?
Answered by Ryan Ross on April 15, 2025
Broker Licensed in FL, GA, KS & 9 other states
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.
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.
Answered by Robert Barco on April 23, 2025
Broker Licensed in OH
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..
Not necessarily, there is no one size fits all box with Medicare. Shopping every year or two helps keep Medigap costs down if possible.
Answered by Darla Anderson on April 17, 2025
Broker Licensed in NE, CO, FL & 5 other states
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Medicare Supplement
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