To make it easier for consumers to comparison shop for Medigap insurance, nearly all states have adopted regulations that limit the number of different Medigap policies that can be sold to 10 standard benefit plans. These plans are lettered A, B, C, D, F, G, K, L, M & N. Each of these plans includes a different combination of benefits.
It is important to know that by law, no company is allowed to pay any more or less on claims with the same lettered plan than any other company. The only difference in each lettered plan is the premium you pay.
Advantage plans are designed in a cost-share structure. These plans may come at a lower premium than a Medicare Supplement plan, but do incur some healthcare costs in the form of co-pays and deductibles. It is important to understand the difference between these two types of plans so you can determine which plan fits your need the best.