Medicare Supplement Insurance (Medigap)

What is Medicare Supplement (Medigap) insurance?

Medicare Supplement insurance, also called Medigap, is a type of health insurance for people already on Medicare Part A and B. It provides benefits over and above the benefits provided by original Medicare (Medicare Part A and B). Medicare Supplement policies are sold through private insurance companies. It is optional and helps cover gaps or costs that Medicare does not cover like deductibles, co-payments and coinsurance. According to information from the Kaiser Family Foundation, about 81% of people on Medicare have some type of supplemental insurance coverage beyond original Medicare.

Generally speaking, if you are under 65 and on Medicare due to disability you are not eligible for Medicare Supplement insurance.

Why do you need Medicare Supplement (Medigap) insurance? Why should I purchase Medicare Supplement (Medigap) insurance now?

There are several important reasons why you should consider purchasing Medicare Supplement (Medigap) insurance:

  • You plan to travel outside the U.S. in retirement.
  • You would like to travel across the country.
  • You currently only have original Medicare, Medicare part A and B.
  • You prefer a plan that is more standardized.
  • Do not want to put a financial burden on your family.

How does Medicare Supplement insurance work?

Medicare will pay for certain Medicare-approved, health related costs up to a certain limit. After this limit is reached this is where Medicare Supplement insurance pays its share. One important point to remember is that your Medicare Supplement insurance is accepted by any medical provider that also accepts Medicare. This is different if you chose a Medicare Advantage plan. Medicare Advantage plan members must use the provider network that has contracted with the Medicare Advantage plan. This means Medicare Supplement plans have a larger network of doctors and hospitals for you to choose from. You can travel out of the country, across the country or visit friends and relatives out of state and not worry if a procedure done in another state or country will be covered by your Medicare Supplement insurance plan. There are Medicare Supplement plans that will cover you if you travel outside the country.

When you sign-up for Medicare Supplement insurance you will continue to have Medicare Part A. Medicare Part A covers you if you have to go to the hospital. It also covers in-patient hospital care, skilled nursing facilities, hospice, lab tests, home health, and surgery. Medicare Part B covers medical services and supplies considered medically necessary to treat your condition.

Medigap coverage when traveling outside the U.S.

Medigap Plans C, D, E, F, G, H, I, J, M or N will cover you at 80% for certain medically necessary emergency services needed within the first 60 days of your trip after you meet a $250 deductible.

How can I sign-up for a Medicare Supplement (Medigap) policy?

Below are the steps to obtaining a Medicare Supplement insurance policy.

  • Enroll in Medicare Parts A and B
  • You cannot be currently enrolled in a Medicare Advantage plan.
  • You can switch out of your Medicare Advantage plan during the Medicare Advantage Annual Enrollment Period between January 1 through March 31.
  • Consider your budget and health care needs.
  • Email or give us a call and we can compare companies and coverages.

Call us at (800) 513-8050 to receive a no obligation consultation and quote. We look forward to hearing from you.

We have answers to other frequently asked Medicare Supplement Insurance (Medigap) questions on our Medicare Supplement FAQs page.