- Top A-Rated Carriers
- Expert, No-Hassle Agent Assistance
- All Consultation Services Are Free
A Medigap or Medicare supplement policy is health insurance sold by private insurance companies to fill the “gaps” in Original Medicare plan coverage. Each Medicare supplement policy helps pay some of the health care costs that the Original Medicare plan doesn’t cover. How much and what gaps are covered depends on the specific plan type you choose. Below is some general information on Medicare supplement plans.
If you are enrolled in the Original Medicare plan and have a Medicare Supplement policy, then Medicare and your supplemental policy will pay both their shares of covered health care costs. At Medicare Benefits Direct, our goal is to show you how to get up to 100% of your medical expenses covered.
There are currently 12 different Medicare supplement plans available, though that will change with the elimination of Medicare Supplement Plans E, H, I, and J. The elimination of these plans coincides with the introduction of Medicare Supplement Plan M and N. Go Here to read more about Plan N. It should be noted that each insurance company can choose which of these Medigap plans to offer; they do not have to offer all available Medicare supplement plans.
All Medicare supplement insurance policies are standardized. This means a Medicare Supplement Plan F from one company has the exact same benefits as a Medicare Supplement Plan F from another company. This make is very easy to compare plans based on price alone.
It is very important to compare Medicare supplement plan prices between insurance companies (check out this detailed guide). Even though Medigap benefits are standardized, the premiums can vary greatly from one insurance company to the next. You should never pay more than the lowest price in your area for Medicare supplement insurance. We at Medicare Benefits Direct can show you the prices from all of the top companies in your state, making your decisions easier.
Generally, when you buy a Medicare supplement policy you must have Medicare Part A and Medicare Part B. You will have to pay the monthly Medicare Part B premium. In addition, you will have to pay a premium to the Medigap insurance company. The premium for your Medicare supplemental policy is determined by three factors. These are your age, your zip code, and the company you choose.
You and your spouse must each buy separate Medigap policies. Your Medicare supplement policy won’t cover any health care costs for your spouse. Several of the companies we represent offer spouse discounts when you purchase supplement insurance. These will be taken into account when your request a Medicare supplement quote through us.
For more information on Medicare supplement plans and which policies would best close the gaps in your Medicare coverage, we urge you to contact our skilled Medigap specialists today. We will help you find the lowest rates where you live.