Making the Switch: Transitioning from Medicare Advantage to Medigap – Is Plan G the New Plan C?

Understanding Medicare Advantage and Medigap Plans

Medicare Advantage (Part C):

• An all-in-one alternative to Original Medicare.
• Combines Part A, Part B, and usually prescription drug coverage (Part D).
• Often includes additional benefits like dental, vision, and hearing.
• Usually has network restrictions.

Medigap Plans:

• Supplemental insurance plans that cover various out-of-pocket costs such as copayments, coinsurance, and deductibles.
• No network restrictions as long as the provider accepts Medicare.

Why Consider Making the Switch?

Here’s a chart to help you understand why some individuals consider transitioning from Medicare Advantage to a Medigap plan:

Medigap Plan C vs. Plan G:

The Transition Process: Step-by-Step

1. Review Your Current Coverage: Understand the coverage and costs of your current Medicare Advantage plan.
2. Research Medigap Plan G: Research the benefits and costs of Medigap Plan G.
3. Consult an Expert: Speak with an independent broker or consult the Medicare & You Handbook for guidance.
4. Apply for Medigap Plan G: Apply for Medigap Plan G during a Medigap Open Enrollment Period or Special Enrollment Period.
5. Disenroll from Medicare Advantage: Once your Medigap Plan G is effective, disenroll from your Medicare Advantage plan.

Key Considerations

Conclusion

Transitioning from Medicare Advantage to a Medigap plan involves careful consideration and planning. With Plan C no longer available to newly eligible Medicare recipients, Plan G is often considered a close alternative in terms of comprehensive coverage. Understanding the differences between Plan C and Plan G, consulting reputable sources like the Medicare & You Handbook, and speaking with an expert can help you make an informed decision.