Always speak with a licensed insurance agent
All Medicare Supplement Insurance Plans will offer the same basic benefits, but some might offer additional benefits. It is therefore very important that you shop around or talk to a qualified agent. You can call the number on the top of the page to speak to a qualified Medigap Plan agent who can help you select a supplement insurance plan that is right for you. Or use the box above to find out which insurance companies sell Medicare Supplement Plans in your area.
All Medigap policies must follow federal and state laws. They must also be clearly identified as Medicare Supplement Insurance. Insurance agencies and companies can sell you only a standardized policy.
Medicare Supplement Plan F is popular and gets you 100% coverage. Since it covers pretty well every possible medical condition and treatment it is expensive. This plan is very popular and will be gone in the year 2000.
Medigap Plan G has carries lower premiums and still offers great coverage. The difference between Plan F and Plan G is that with Medigap Plan G you will have to pay for Medicare Part B annual deductible. In 2016 this deductible was $166.
Medicare Supplement Plan N is also very popular and even less expensive. However, you will have to pay the Part B deductible, AND some other minor expenses. If you are reasonable health and plan to stay that way, this is the plan to consider.
Make sure you shop around! Most Medicare Supplemental Plans are similar but might come with additional benefits or cost than others.
Compare Medicare Supplemental Insurance plans using this chart:
Medicare Supplement Insurance also known as Medigap is an health insurance sold by private companies, that will help you pay some of your heath care costs that Original Medicare does not cover. Deductibles, co-payments, and coinsurance are some of the costs Medigap can cover.
Some health insurance polices under Medigap may also offer individuals coverage for services that the Original Medicare plans does not cover such as medical care when you travel outside of the U.S. If someone already has Original Medicare coverage and they buy a Medigap policy, Medicare will but for a share of Medicare-approved amounts for their covered heath care costs and then you pay for your Medigap policy it shares.
will provide them.
What are not contained in a Medigap Policy?
Long-term care line nursing home, private duty nursing, eyeglasses, vision and dental care, and hearing aid are not part of the Medigap Policy.
The open enrollment period is a time frame wherein the insurance providers allow you to file any type of Medigap policy offered in your state. This is a one-time chance and six-month period beginning when you are covered under the Medicare Part B policy and you have reached the age of 65 or older. At this period, no insurance provider can deny you the right to purchase a Medigap policy irrespective of the present health condition you may have.
The premium rate for Medigap Policies can be calculated in three manners namely the no-age rated, the entry-age rated, and the attained-age-rated. Seek the thorough explanation of the insurance agent with regards to this matter so you can evaluate if they are offering you a great deal or not. Be reminded that most of these policies will increase due to Medicare inflation rate charged on the policy on a yearly basis.
Medigap Insurance Plan is a great way to take good care of your health as you grow older. Nevertheless, you need to choose the most appropriate policy that will fit your most important needs. Be a smart Medicare Supplemental Insurance buyer and shop around to get the best deals in the market.
Medicare is the federal health insurance program – this is for people older than age 65 as well as younger people with disabilities. It includes people who have End-Stage Renal Disease sometimes called ESRD which is permanent kidney failure and requires dialysis or a transplant.
The federal Medicare program may be supplemented with different options through a private insurance company with additional out of pocket costs. This is in addition to Part A or Part B plans. Plans include different types of prescriptions drug plans, Medicare Advantage Plans, Medgap Policy.
Solicitation of insurance, this site is not connected with or endorsed by the US government or the federal government.