Medicare Supplement
What is Medicare Supplement (Medigap)?
Medicare Supplement Plans, also known as Medigap is a type of insurance policy that helps pay some of health care costs that are not covered by Original Medicare.
Original Medicare consists of two parts: Part A (hospital insurance) and Part B (medical insurance). Although these parts provide coverage for many health care services, they do not cover everything.
Medicare Supplement plans are sold by private insurance companies help cover some of the out-of-pocket costs not covered by Original Medicare. These plans are standardized meaning each plan offers the same core benefits regardless of which insurance company sells it. These plans are guaranteed renewable, so as long as you pay your premium, the insurance company cannot cancel your Medigap policy. However, premiums and other features may vary between plans, so it’s important to shop around and compare plans before choosing one. This is where we can help.
Medicare Supplement insurance plans are secondary to Medicare. Medicare is your primary coverage and pay your claims first. Medigap plans help cover costs that Medicare doesn’t, such as your deductible and coinsurance. Medigap plans offer predictable costs. Medigap plans do not include prescription drug coverage, so you might need to enroll in a separate Part D drug plan for medications.
How It Works
Steps To Enroll
Medicare Supplement Enrollment Period
The Medicare Supplement Open Enrollment Period is a six-month period that begins on the first day of the month in which you are both 65 or older and enrolled in Medicare Part B. During this time, you have a guaranteed right to buy any Medicare Supplement (Medigap) policy sold in your state, regardless of any pre-existing health conditions. Insurers cannot deny you coverage or charge you more due to health issues during this period.
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