Medicare Supplement Insurance, also known as Medigap, helps cover unexpected medical costs that Original Medicare does not. This supplemental coverage can provide financial relief and peace of mind for individuals needing additional health care services.
What is Medicare Supplement Insurance?
Medicare supplement insurance (Medigap) is designed to cover certain health care costs that Original Medicare leaves unpaid, such as copayments, coinsurance, and deductibles. Some Medigap policies may also provide coverage for services not included in Original Medicare, like medical care during travel outside the U.S.
When you have Original Medicare and purchase a Medigap policy, Medicare pays its portion of the Medicare-approved amount for covered health care costs. Following that, your Medigap policy covers its share.
Key Differences from Medicare Advantage Plans
| Aspect | Medicare Supplement Insurance (Medigap) | Medicare Advantage Plans |
|---|---|---|
| Purpose | Supplements Original Medicare benefits | A different way to receive Medicare benefits |
| Coverage | Covers costs not paid by Original Medicare, such as copayments and coinsurance | Usually covers everything Original Medicare covers and often includes additional benefits |
| Enrollment | Requires having Original Medicare | Replaces Original Medicare benefits |
Important Things to Know About Medicare Supplement Coverage
- If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but you must be able to leave the Medicare Advantage Plan before your Medigap policy starts.
- You will pay a monthly premium for your Medigap policy in addition to the monthly Part B premium you pay to Medicare.
- A Medigap policy covers only one person. If both you and your spouse want coverage, you will need two separate policies.
- Any standardized Medigap policy is guaranteed renewable, meaning it cannot be canceled due to health issues if premiums are paid.
If you’re interested in obtaining a quote or learning more about the right Medicare Supplement Insurance coverage for you, feel free to reach out:
- Phone: (855) 543-6476
- Atlanta Office: One Glenlake Parkway, Suite 650 and 700, Atlanta, GA 30328
- Bridgeport Office: 1000 Lafayette Blvd, Suite 11, Bridgeport, CT 06604
- Email: Contact Us
Would you like information on how Medicare Supplement Insurance compares with other health insurance options?