About Medicare Supplement Plans
Medicare Supplement plans, also known as Medigap plans, are designed to cover specific healthcare costs that are not covered by Original Medicare. Medigap premiums depend on the insurer, where you live and the exact plan. If you sign up for one of these plans when you first enroll for Medicare, you can’t be denied and the insurance provider can’t charge you more for pre-existing conditions..
To enroll in a Medigap plan, you must be enrolled in Original Medicare. Medigap differs from Medicare Advantage in that Medicare Advantage plans are private insurance alternatives to Traditional Medicare, while Medigap plans supplement your Medicare benefits. Like the name implies, Medigap helps fill in “gaps” in Medicare parts A and B.
Medicare Supplement Insurance plans help pay for some of Original Medicare’s remaining healthcare costs, including:
- Copayments
- Coinsurance
- Deductibles
Medigap plans can save you a significant amount of money (read how much here). While no one actively anticipates a major health emergency, they can and do happen. Medicare Supplement Insurance will ultimately protect your hard-earned assets.
For help with Medigap plans, reach out to us today!