Independent Agent & Medicare Supplement Specialist, reMEDIGAP, USA
Since all Medigap plans are standardized, the benefits are exactly the same with every insurance company. This means that Medigap Plan F with ABC insurance company is the exact same Medigap Plan F with XYZ insurance company. The only difference is price. Medicare does not regulate the price of Medigap Plans...just the benefits. That's why there is such a competitive market.
Many Medicare Beneficiaries like the idea of purchasing Medigap through a well known insurance company, but that doesn't mean you are going to get the best price. Medigap is not like health insurance for under age 65 where a Medical director approves or denies your bills. Medigap payments are made by the insurance carrier if it's a Medicare approved item because they have to -- it's the law.
I suppose that was the long way of saying there isn't one insurance company that has the best Medigap coverage. They all offer the same standardized plans and pay the bills based upon CMS regulations.
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Many Medicare Beneficiaries like the idea of purchasing Medigap through a well known insurance company, but that doesn't mean you are going to get the best price. Medigap is not like health insurance for under age 65 where a Medical director approves or denies your bills. Medigap payments are made by the insurance carrier if it's a Medicare approved item because they have to -- it's the law.
I suppose that was the long way of saying there isn't one insurance company that has the best Medigap coverage. They all offer the same standardized plans and pay the bills based upon CMS regulations.