Medicare Supplement Plans

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Medicare Supplement Plans

Medigap or Medical Supplement Plans help in filling the gaps in the Original Medicare. They are sold by private companies. Original Medicare offers help with a considerable part of the covered health care supplies and services, but not all of it.

A Medicare Supplement Plan (Medigap) can help the user to pay some of the remaining health care costs like:

  • Copayments
  • Coinsurance
  • Deductibles

Some of Medigap’s policies also cover services like medical care facilities when a user travels outside the United States. This was not covered under the Original Medicare. In case you already have the Original Medicare and buy a Medicare supplement plan, here is what will happen:

  • Medicare will offer its share of the payment that is initially approved by Medicare for covering healthcare costs.
  • After this, Medigap policy offers its share of money to be paid.

What do Medigap Policies not Cover?

  • Long term care
  • Vision
  • Dental care
  • Hearing aids
  • Eyeglasses
  • Private duty nursing

Things to Know About Medigap Policies

  • The user must have both Medicare Part A and Medicare Part B.
  • A Medigap policy is not the same as a Medicare Advantage Plan. Medigap only supplements the original Medicare benefits.
  • The user has to pay the private insurance company a fixed amount of money towards the premium for the Medigap Policy.
  • A Medicare Supplement Plan covers only people. If you and your spouse are looking for these supplement plans, you should pay for 2 of them.
  • You can purchase a Medigap policy from any insurance company that is licensed by the state you reside in.
  • It is illegal for anybody to sell you a Medicare Supplement Plan if you already have a Medicare Advantage Plan in place. However, if you switch back to Original Medicare, it is legal in such a scenario.