Medigap/Medicare Supplement Insurance

Medicare Supplements, also known as Medigap Insurance are sold by private insurance companies. It works only with Original Medicare. Medicare supplements fill the gaps in the Original Medicare Plan. It covers all or a portion of Part A and Part B cost sharing (coinsurance, copayments, or deductibles) for beneficiaries in Original Medicare.

Medicare Supplements, are regulated by state and federal governments as compared to other insurance products that are governed only by the state.  It is important to know what Medigap Insurance can do for you before buying it.

The ABC of Medigap Insurance:

• There are 10 standardized Medicare Supplement Plans (from A to N) that cover all the states in the U.S.

• Each Letter Plan has a different set of basic and extra benefits.

• Insurance companies selling Medigap policies are required to make Plan A available. If they offer any other Medigap policy, they must also offer either Plan C or Plan F.

• Not all types of Medigap policies may be available in your state.

• Plans E, H, I and J are no longer sold, but, if you already have one, you can generally keep it.

• Medicare Supplements do not cover your spouse’s health care costs.  You and your spouse must each buy separate policies.

If you are covered under a group health insurance plan, you won’t need to buy Medigap Insurance at all. Also, keep in mind that not all plans are available in all areas of the state where you live.

There are several other factors that determine which plan fits your needs.

If you need Medigap Insurance to cover your health care costs, contact us and we will help you find the right plan.