Medicare Supplement Plans

There is one question we get from a lot of our clients who are new to Medicare.

“What are Medicare Supplement plans?”

A Medicare Supplement Plan (Medigap) helps pay for some or all of the health care costs that Original Medicare doesn’t cover.

Generally, there are 10 standardized Medicare Supplement plans.  Each plan is labeled with the letters A through N.   The letter represents a specific set of federally mandated benefits.  Private companies can choose to sell some or all of the plans, but the benefits under each are the same.

***Medicare supplement plans are standardized in a different way in Massachusetts, Minnesota, and Wisconsin.

Medigap Comparison Chart

Helpful Tips for Medicare Supplement Plans

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

    2. If you have a Medicare Advantage Plan, you can apply for a Medicare Supplement plan. Remember you cannot have both plans. Make sure you leave the Medicare Advantage Plan before your Medicare Supplement policy begins.

    3. You pay the insurance company a monthly premium for your Medicare Supplement plan. The monthly premium in addition to the monthly Part B premium that you pay to Medicare.

    4. A Medicare Supplement plan policy only covers one person. You and your spouse each have to buy separate policies in order to have coverage.

    5. There are two common ways to purchase a Medicare Supplement plan, either through the company directly or by working with an independent broker.  Either way, the premium charged will be the same.

    6. Any standardized Medicare Supplement plan is guaranteed renewable, even if you have health problems. The insurance company can’t cancel your Medigap policy as long as you pay the premium.

    7. Some Medicare Supplement plan policies sold in the past cover prescription drugs. But, Medicare Supplement policies sold after January 1, 2006, do not include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).

Medicare and Medigap Complete Resource Library

Click Here To Download

Save Money on Medicare
Medigap Made Simple
Medigap and You 2018
T65 Checklist _Page_1
Mutual of Omaha
SMS Medicare Insurance
TransAmerica Medigap Carrier
Cigna Medigap Insurance
Aetna Medigap
United Healthcare AARP
Medicare Supplement Carrier Logo
Bankers Fidelity Medicare Supplement Carrier

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.