If you have traditional Medicare, Parts A and B; Medicare Supplement Insurance helps pay the costs that Parts A and B do not cover.

Medicare Supplement policies can help with deductibles, coinsurance and copayments.

Medigap Pays the Excess

Medicare Part B only covers 80% of your medical expenses. Medicare Supplement Plans (Medigap) help pick up the excess costs. 

You must be enrolled in Medicare Part A and B to purchase a Supplement plan. 

There are 10 Supplement Plans on the market; each has the same standardized coverage

Know the Enrollment Period

You get a 6 month “Medigap Open Enrollment” period, which starts the first month you have Medicare Part B and you’re 65 or older. During this time, you can enroll in any Medigap policy and the insurance company can’t deny you coverage due to pre-existing health problems. 

After this period, you may not be able to buy a Medigap policy, or it may cost more. 

Your Medigap Open Enrollment Period is a one-time enrollment.  It doesn’t repeat every year, like the Medicare Open Enrollment Period. 

Exactly What Does Medigap Cover?

Medigap plans generally help cover your share of costs for services that are covered by Original Medicare (Part A and Part B). 

The benefits are different in each plan – you can buy the one that meets your needs. Not all plans are offered in every state. 

Medigap covers out-of-pocket costs associated in Original Medicare, like:

1. - Copayments
2. - Coinsurance
3. - Deductibles

Some Medigap policies cover services that Original Medicare doesn't cover, like emergency medical care when you travel outside the U.S. (foreign travel emergency care). 

Medigap plans generally don’t cover:

1. - Long-term care 
2. - Vision or dental care
3. - Hearing aids
4. - Eyeglasses

These Are Standardized Policies

All Medigap policies are standardized. This means, policies with the same letter offer the same basic benefits no matter where you live or which insurance company you buy the policy from.

There are 10 different types of Medigap plans offered in most states, which are named by letters: A-D, F, G, and K-N. Price is the only difference between plans with the same letter that are sold by different insurance companies. 

The Most Popular Plans

The most popular Medicare Supplement Plans are F, G, or N; these offer the most coverage, but you may want something different. 

Some want a plan that covers all the gaps and leaves them with little worries regarding the cost of medical procedures. Others might want a plan that covers only some of the deductibles and copays to achieve lower premiums.

There is no right or wrong. Ask your agent to provide quotes, and see what is the best fit for you.

What Is Medicare Select?

In some states, you may be able to buy another type of Medigap policy called Medicare SELECT

If you buy a Medicare SELECT policy, you have the right to change your mind within 12 months and switch to a standard Medigap policy.

Excellent Protection for You

Every Medigap policy must follow federal and state laws designed to protect you.

It’s important to watch out for illegal practices by insurance companies, and protect yourself when you’re shopping for a Medigap policy. 

Be informed. Work with a professional you like, know and trust!