Medicare Supplements

What is Medicare Supplement (Medigap) Insurance?

A Medicare supplement (Medigap policy) sold by private insurance companies, can help pay substantial health care costs that Medicare doesn’t cover, like co-payments, coinsurance, and deductibles.

If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs, and your Medigap policy pays its share.

What You Need To Know About Medigap Policies:

  1. These plans allow you to see any doctor in the US, as long as they accept Medicare, they will accept your supplement.
  2. You must have Medicare Part A and Part B.
  3. If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but need to make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
  4. You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
  5. Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can’t cancel your Medigap policy as long as you pay the premium.
  6. Medigap policies sold after January 1, 2006 aren’t allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).

For more information, contact one of our agents who will help you find a plan that works for you.

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