How does Medicare Supplement Insurance (Medigap) Work?

This question on the surface is very difficult to answer because of all of the variables that are involved in the use of Medigap insurance.  This type of insurance basically steps in to augment and improve the coverage that you already have for your health insurance.  With Medigap policies there is much to remember, here are two key things you should keep in mind.

1. You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.  Remember this when you are making your budget to live on each and ever month as many people forget.  These two policies are completely separate and fulfill different purposes, don’t forget to remember both invoices when the time comes.
2. A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you each will have to buy separate Medigap policies.  This is very important to remember if you both have potentially stressful medical tendencies.  Remember that your Medigap policy steps in to effect when your Medicare policy does not, so does your Medicare have room for both of you or just one?

Filed under: Medicare Supplemental Insurances

Tags: medical supplement, medicare supplement insurance, medigap