Medicare Supplement Insurance (Medigap)

  • Medigap is a Medicare Supplement plan that helps fill "gaps" in Original Medicare.
  • Medicare Supplement Insurance (Medigap) can help pay some of the remaining health care costs and supplies not covered that Original Medicare such as:
    • Copayments
    • Coinsurance
    • Deductibles

Then, your Medigap policy pays its share.

 

What you need to know Medicare Supplement Insurance (Medigap) 

  1. You must be enrolled in Medicare Part A & B.
  2. A Medigap policy is different from a Medicare Advantage plan.  Those plans are ways to get Medicare benefits, while a Medigap policy only supplements your Original Medicare benefits.
  3. You pay the private insurance company a monthly premium for your Medigap policy. You pay this monthly premium in addition to the monthly Part B premium that you pay to Medicare.
  4. A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.
  5. You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.
  6. Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company cannot cancel your Medigap policy as long as you pay the premium.
  7. Some Medigap policies sold in the past cover prescription drugs. However, Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
  8. It is illegal for anyone to sell you a Medigap policy if you have a Medicare Advantage plan, unless you're switching back to Original Medicare.
  9. Medigap policies generally don't cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.