Medicare Supplements
What is a Medicare Supplement?
A Medicare Supplement policy is also known as a MediGap policy. Medicare Supplements help fill the "gaps" in Original Medicare and are sold by private insurance companies. The "gaps" in Original Medicare are the health care costs that aren't paid for by Medicare. A Medicare Supplement (or MediGap) can help pay for some of these costs, particularly:
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Copayments
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Coinsurance
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Deductibles
MediGap Coverage
Medicare Supplements (MediGaps) cover the gaps in Original Medicare. Typically, Medicare pays for 80% of all medically-necessary health care costs. This means the remaining 20% is your responsibility. A Medicare Supplement (MediGap) can help pay this 20%.
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In addition, depending on when you went on Medicare, you may also be able to get a Medicare Supplement (MediGap) policy that pays both the Part A and Part B deductibles.
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Some Medicare Supplement (MediGap) policies also cover services Original Medicare doesn't, such as medical care when traveling outside the US.
MediGap Plans
Medicare Supplements (MediGaps) are standardized. This means that each insurance company offering Medicare Supplement (MediGap) plans must offer the same basic benefits. However, these private insurance companies don't have to offer all available plans.
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There are 11 different Medicare Supplement (MediGap) plans available. Each are named after a letter of the alphabet ranging from Plan A-N.
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Price is usually the only difference between plans with the same letter name sold by difference insurance companies. This allows for an easy comparison.
The three most popular plans are F, G and N.
Click the links to learn more about the benefits of each plan.
MediGap Enrollment
Sometimes, an insurance company has to sell you a Medicare Supplement (MediGap) plan even if you have health problems. There are two instances when your enrollment cannot be denied:
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Open Enrollment
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Guarantee Issue
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Contact us to see if you qualify for either of these instances!​
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Outside of these two enrollment periods, you may still be able to buy a Medicare Supplement (MediGap) policy, but the insurance company can deny you based on your health. The best time to enroll in a plan is when you first become eligible.
