What is a Medicare Supplement, also known as a Medigap Policy?  

Watch this short video for more information!

In Short:

A Medicare Supplement Insurance (Medigap) policy helps pay some of the health care costs that Original Medicare doesn’t cover, like:

  • Copayments

  • Coinsurance

  • Deductibles

We offer every Medicare supplement plan available (A, B, C, D, F, G, K, L, M, and N) from over 30 different insurance carriers. 

Medigap plans are calculated based on various aspects of your health, age, location, and other insurance companies and therefore does not have a fixed cost with any Medigap plan you pursue.

Things to know!

  1. You must have Medicare Part A and Part B.

  2. If you have a Medicare Advantage Plan, you can apply for a Medigap policy. But, make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.

  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 can’t cancel your Medigap policy as long as you pay the premium.

  7. Some Medigap policies sold in the past cover prescription drugs. But, 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’s illegal for anyone to sell you a Medigap policy if you have a Medicare Medical Savings Account (MSA) Plan.

How do you know the best plan for you?

The best way to find out what plan will work best for your needs is to talk to one of our licensed advisors.  Check out this video which shows how they do this for you!

About Alicia Gibbons

Alicia is a Senior Office Administrator in the Medigap industry and has 10 years experience. She is a one stop shop for answers, information and support for Medicare clients. When shes not writing you can find her in the garden.