Medigap Insurance: What is Medigap (Medicare Supplement) Insurance?
A Medigap supplement insurance policy is a health insurance plan which is sold by private insurance companies to fill the gaps in your Medicare coverage. These Medigap plans may help pay some of the associated costs that your Medicare Plan will not cover.
Per Medicare law, private insurance companies can only sell you a standardized Medigap coverage policy. Since these plans will all be very similar, it will be easy for you to compare them.
You will have the option to choose from 12 different Medigap plans which are titled “A” through “L”. Each Medigap plan must follow all related Federal and State laws. Each Medigap plan or policy must be clearly identified on as Medicare Supplement Insurance. Each Medigap plan has a different level of basic and additional benefits.
Costs may vary from plan to plan, so it will be important for you to compare them carefully. The benefits will be the same for all insurance companies offering Medigap. Some insurance companies may choose not to carry all 12 plans.
It’s usually required that you have both Medicare parts A and B before you can buy a plan. You will be responsible for paying the Medicare Part B monthly premium (which is normally deducted from your social security check). If you get Medigap coverage, you will have an additional premium paid to the insurance company you choose.
If you are married, your spouse will not be covered on your Medigap policy. You may both have Medigap policies and you may both choose which company to hold your plan.Â
2 Responses to Medigap Insurance: What is Medigap (Medicare Supplement) Insurance?
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age 60 live in alabama medicare in sept (disability) do i have to get
prescription and gap policy on my on(private pay)?
Mr. Sanders,
That’s really a question for Medicare. We cannot help you there much. You should either contact Medicare directly (1-800-MEDICARE) or see their frequently asked questions at http://questions.medicare.gov.