Medigap
What Is Medigap?
Medigap is a Medicare Supplemental Insurance that helps with filling any gaps of coverage in an original Medicare plan. While Medicare does pay for quite a few costs associated with health care, its important to note that it does not always pay for all costs associated with services received.
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Medigap insurance is designed to help you pay for the gaps that are not covered by original Medicare, such as: Copays, Coinsurances, Deductibles, and Health Care if you travel outside the United States.
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If you have any questions in regards to this plan, do not hesitate to reach out to me via phone, email, or fill out the form on this site. I would be happy to assist you with getting you into the right plan!
Important Information About Medigap:
Medigap insurance is a great addition to your current Medicare plan. As mentioned above, it helps pay for gaps that appear within your original Medicare plan such as, copays, deductibles, coinsurances, and travel outside the US.
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With Medigap, it is important to note that this policy only covers one person. So, if you and your spouse both want a Medigap plan, it is required that you each obtain your only policies, separate from one another. Medigap policies are provided by Medicare approved, private, insurance companies. You will pay a monthly premium to the company of your choice in order to have this additional coverage. Medicare sets all rules for these plans, each insurance company must follow Medicare guidelines and are only able to set the monthly premium amounts that are charged to you.
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Medigap insurance policies are only available to those that have Medicare Part A, which pays for hospital services, and Medicare Part B, which covers doctor services. It is important to understand that people who currently have a Medicare Part C (Or Medicare Advantage) plan can not receive a Medigap plan.
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Things To Know About Medigap Policies
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You are required to have Medicare Parts A and B.
Medigap is not the same as Medicare Advantage. Medicare Advantage is a way to get Medicare benefits, while Medigap only supplements your original Medicare plan.
You pay a monthly premium to the company that you choose for insurance coverage. It is important to note that this premium is in addition to what you pay for the Monthly Part B premium for Medicare.
Medigap coverage only covers one person - therefore, if both you and your spouse would like coverage, you will need to purchase coverage separately.
You can buy this policy from any insurance agent that is contracted with the insurance company and also licensed to sell within your state.
This plan is renewable even if you have health problems. What this means is that the insurance company you choose to purchase your policy through can not cancel your plan as long as you pay your monthly premiums.
Please do note: That if you do join a Medigap plan, then you will likely have two monthly premiums.
If you currently have a Medicare Advantage Plan, then it is illegal for anyone to sell you a Medigap policy, unless you are in the process of switching back to an Original Medicare plan.
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Please remember, that I am always here to help. If you choose me to be your insurance advisor, you will have exclusive contact to me via phone or email which is answered within 1 to 2 business days.
If you have any questions in regards to this plan, do not hesitate to reach out to me via phone, email, or fill out the form on this site. I would be happy to assist you with getting you into the right plan!