Top Ten List – Most Incorrect Things I’ve Heard Regarding Medicare

As an independent agency that works in 40 states, we talk to people from all walks of life – all over the country, different backgrounds, experience levels with insurance, and different stages in the plan exploration process. From these conversations, I hear lots of interesting things. Most of it is correct – it’s amazing how much reading most people going on Medicare do and how much information they already know when we speak with them. However, I do hear some common misconceptions – this is our attempt to set those misconceptions straight for the mutual benefit of future people turning 65 or going on Medicare for the first time.

  1. “My friend says company XYZ “pays real well”. This is not entirely a myth. The company probably does pay well. The reality, however, is that all Medigap plans pay the same way – through the Medicare “Crossover” system. There are no appreciable differences in how fast, how much, etc. one company pays vs. another.
  2. “Medicare doesn’t cover any wellness care.”This used to be the case, but it is not anymore. Check it out: Does Medicare cover wellness care?
  3. “My doctor doesn’t take company XYZ Medigap plan.” If a doctor/hospital takes Medicare, they are required to take the standardized Medigap plans. They cannot pick and choose from among the Medigap companies.
  4. “Medicare Advantage plans are the same as Medigap plans.” This is certainly not true for many reasons. What are the Differences Between Medigap and Medicare Advantage?
  5. “I want to sign up for Part F or Plan A and Plan B.” This is a very honest, common mistake. Medicare has “Parts” (A, B, D); Medigap has “Plans” (A-N). Medigap Plans vs. Medicare Parts
  6. I have Medicare A & B and coverage from my company but I want to get a Medicare Supplement to pay what they don’t pay.” This is simply not true. A Medigap plan will not even work well with an employer plan, if at all.
  7. “I have a Medicare Advantage plan and I need a Medigap to pay what it doesn’t pay.” Likewise, this is not true. In fact, you cannot have a Medigap and a Medicare Advantage. Medigap supplements Medicare; when you have a Medicare Advantage plan, Medicare is not your coverage.
  8. “My Medigap plan covers my prescription drugs.” This is only the case if you purchased your plan before 1994. The current plans do not include any prescription coverage.
  9. “My Plan F is better than XYZ Plan F.” The plans are completely standardized. What are the Differences in the Medigap plans?
  10. “This plan costs more so it must be better.” Unfortunately, no. It’s not that easy. I would never recommend paying “extra” for a plan because you recognize the name, heard it is good, etc. The plans are completely standardized. Save yourself the money in the beginning – get a lower cost plan. Coverage is the same.

If you have any questions about this information please contact us online at Medicare-Supplement.us or call us at 877.506.3378.

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