Medicare Overview

Medicare Benefits

Choosing A Medicare Plan

Enrollment

Medicare Eligibility

Medicare Costs

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Medigap (Medicare Supplemental Insurance)

Original Medicare (Medicare Part A and Part B) pays for many, but not all, healthcare services and supplies. A Medigap policy, sold by private insurance companies, can help pay some of the healthcare costs (“gaps”) that Original Medicare doesn’t cover, like copays, coinsurance, and deductibles. Keep in mind, Medigap insurance is supplemental and is not required by Medicare. However, many people who have Original Medicare find Medigap plans helpful to offset gaps in the Original Medicare coverage .

Premium – the Medigap premiums vary based on the plan you select (Medigap A – L). The plans with the same letter name offer exactly the same benefits but premiums may be different depending on the insurance company. Medigap is a program where it definitely pays to shop around.

One important factor related to the cost of your Medigap premiums is when you enroll. You will have 6 months from the time you turn 65 to enroll in a guarantee issue Medigap plan. Guarantee issue means that as long as you enroll within the 6 month period of receiving Medicare, the Medigap insurance company may not deny your Medigap enrollment based on age or health condition. If you enroll outside the initial enrollment period and you are not eligible for a Medigap Special Enrollment Period, Medigap plans may use medical underwriting to determine your premium based on age and/or health status. In addition, the health plans may choose to deny your application entirely. For this reason, if you are interested in a Medigap plan, it is important to enroll in one when you first become eligible.