Medicare Supplement Insurance
Cover the “gaps” in Medicare
Just because you have Medicare doesn’t mean you won’t have to pay for medical care. Medicare Supplemental Insurance, also referred to as “Medigap” can help pay some of these extra costs.
Why Medicare Supplemental Insurance Matters
Helps Cover Gaps
Medicare Supplemental Insurance covers the "gaps" in cost that are not covered by Original Medicare alone. This can include services, supplies, coinsurance, copayments and deductibles.
Guaranteed
As long as you pay your premiums, your coverage is guaranteed to renew. You can not be denied coverage based on medical conditions that you might become diagnosed with.
Multiple Options
There are several different levels of Medicare Supplemental Insurance, which means you have some choice in the level of coverage you want.
Open Enrollment
During open enrollment, you can't be denied or charged more for Medicare Supplemental Insurance due to health problems.
Did you know?
Frequently Asked Questions
A Medicare Supplement, often referred to as Medigap, is a type of private health insurance designed to work alongside Original Medicare (Parts A and B). It helps cover the “gaps” in Medicare coverage, such as deductibles, copayments, and coinsurance.
To be eligible for a Medicare Supplement plan, you must already be enrolled in both Medicare Part A and Part B. You typically have a six-month Medigap Open Enrollment Period during which you can enroll without being subject to medical underwriting. Outside of this period, you may be subject to medical underwriting and could pay higher premiums based on your health.
Medicare Supplement plans work with Original Medicare and provide additional coverage for out-of-pocket costs. In contrast, Medicare Advantage plans are private plans that replace Original Medicare and may offer additional benefits, but they often have network restrictions.
Medicare Supplement plans come in standardized lettered plans (e.g., Plan A, Plan F, Plan G). Each lettered plan offers a specific set of benefits, although Plan F is no longer available to new enrollees. Coverage may include copayment and coinsurance coverage, skilled nursing facility care, and even foreign travel emergency coverage, depending on the plan.
You can compare Medigap plans by reviewing the benefits each plan offers, considering your specific healthcare needs, and comparing premium costs. Many states have standardized Medigap plans, making it easier to compare offerings.
You can generally switch Medicare Supplement plans at any time of the year. However, if you’re outside your initial enrollment period and not in a guaranteed issue situation, you may be subject to medical underwriting, which could impact your eligibility and premiums.
Are you ready to fill the gaps?
We would love to talk to you about your options for additional coverage.