Medigap Supplemental Insurance Explained


Medigap is a supplemental health insurance policy sold by private insurance companies to fill gaps in Medicare coverage.

What Is Medigap?

Medigap, also known as Medicare Supplemental Insurance, is a supplemental health insurance policy sold by private insurance companies to fill gaps in Original Medicare Plan coverage. Medigap helps to pay for health care costs such as co-insurance, co-payments, and deductibles.

What Are Medigap Policies and What Do They Cover?

Medigap has 12 different policies: Medigap Plans A through L. If you or a loved one is considering Medigap supplemental coverage, review each Medigap plan carefully. Each plan has a different basic and extra benefits, and different costs.

Depending on the policy, Medigap plans cover the following expenses:

  • Stays in a skilled nursing facility
  • Blood (first 3 pints annually)
  • Medicare Part A coinsurance and hospital benefits
  • Medicare Part B annual deductible
  • Medicare Part B co-payments
  • Excess doctor charges
  • Foreign travel emergencies
  • Routine checkups
  • At-home recovery

If you are married, you and your spouse must purchase separate policies. All of these policies are regulated by the federal and state governments.

How Does Medigap Work with Medicare and Medicaid?

If you buy a Medigap policy, you must have Medicare Part A and Medicare Part B. You will pay the monthly premium for Medicare. Medigap coverage is renewed annually and also requires a monthly premium.

Residents of Massachusetts, Minnesota, and Wisconsin have specialized plans. Plans K and L only provide benefits that supplement those covered under Medicare Parts A and B. Plans K and L also require a predetermined out-of-pocket expenditure before paying the full supplemental benefit for the remainder of the calendar year.

If you wish to buy a Medigap Policy, you cannot be a Medicaid recipient.

How Does Medigap Work with Insurance Companies?

Insurance companies provide Medigap policies, and decide which Medigap plans they want to offer. Though each plan remains the same regardless of the company providing it, the cost of the policy is up to the insurance company. The same Medigap plan can have a different cost depending on the company offering the policy.

Carefully consider which policy is right for you and be sure to shop for the best rates.

Related Articles

Source: Neighborhood Link
Search All Articles
Related Articles
No Child Left Behind Increases Parents' Choices
Nclb_thHow No Child Left Behind provides educational choices
No Child Left Behind and Charter Schools
Apple_thHow Charter Schools work with the No Child Left Behind law
No Child Left Behind and School Safety
Books_thWhy No School Left Behind will make schools safer and more drug-free
Are You Ready for Earthquakes?
Areyouready_030_thHow to be better prepared in an Earthquake

Most Popular
Association Consistency Key To Success
ConsistencyiskeythumbPerhaps the most frustrating thing for a customer is inconsistent service.
Official Coast Guard Top 10 Rescues
Coast_guard_rescue_chopperthumbDuring Hurricane Katrina search and rescue operations alone saved 24,135 lives from imminent danger,
Jobs in the Current Economic Market
NetworkingthumbYou will most likely get your new job through networking, not through replying to an ad from the newspaper or online.
Six Tools for Dealing with Negative Equity
KeyinvestSix Tools for Dealing with Negative Equity


Zip Code Profiler

Neighborhoods, Home Values, Schools, City & State Data, Sex Offender Lists, more.

Instant Home Value!