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Same Company for Drug and Medigap Plans — Good or Bad Idea?

Apr 07, 2016


Some companies selling Part D prescription drug plans also offer Medicare supplement plans, commonly known as Medigap policies. Many starting out on with Medicare think they have to get both plans from the same company. If it turns out one insurance company can offer the best deal, go for it. However, there is no mandate that both plans have to be sponsored by the same company. And, in most cases, that won’t be the best option.

Here are two examples.

  • Working with an agent, Jean was going to enroll in one company’s supplement and drug plans. However, she found out that the drug plan did not cover one her medications. Choosing a different company’s Part D plan would ensure coverage of all her medications.
  • Sam got both plans from the same company. It was just less hassle, he said. The drug plan cost $49 a month and he takes only one generic medication. He could have saved over $30 a month by getting a different company’s drug plan.

Remember three points.

  • If you opt for Original Medicare, shop around for your best cost and coverage options. It’s okay to use two insurance companies.
  • If you elected Medicare Advantage, one plan will provide your medical and prescription drug coverage.
  • Check out changes in cost and coverage every year during the Fall Open Enrollment Period. (Read more at open enrollment.)


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