Medicare Supplement Insurance
What Is Medicare Supplement Insurance?
Medicare Supplement Insurance, also called Medigap, is private insurance designed to work alongside Original Medicare. It can help pay some of the out-of-pocket costs left by Medicare Part A and Part B, such as certain deductibles, coinsurance, and copayments.
Medigap does not replace Original Medicare. In most cases, Medicare pays its share of an approved service first, and the Medigap policy helps pay according to the benefits included in the plan you selected.
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Medigap Works With Original Medicare
To buy a Medigap policy, you generally need to have Medicare Part A and Part B and remain enrolled in Original Medicare.
A Medigap policy is different from a Medicare Advantage plan. Medicare Advantage is another way to receive your Medicare benefits through a private Medicare-approved plan. Medigap supplements Original Medicare instead.
You cannot use a Medigap policy to supplement a Medicare Advantage plan. If you are deciding between those two paths, it is important to compare how each option works before making a change.
Understanding Standardized Medigap Plans
Most Medigap policies are identified by standardized plan letters. The benefits included in a particular standardized plan letter are the same regardless of which insurance company sells the policy.
Plan G is one commonly considered option. For people who are eligible to purchase it, Plan G covers many of the cost-sharing gaps in Original Medicare, but it does not pay the Medicare Part B deductible.
The right plan letter depends on the benefits you want, what is available where you live, and how the premium fits your budget.
Medigap or Medicare Advantage?
Medigap and Medicare Advantage solve different problems. With Medigap, you keep Original Medicare and add supplemental coverage to help with certain out-of-pocket costs.
Medicare Advantage replaces Original Medicare as the way you receive your Medicare-covered services through a private Medicare-approved plan. Provider networks, prior authorization requirements, prescription drug coverage, additional benefits, and out-of-pocket costs can vary by plan.
Your doctors, prescriptions, travel habits, budget, health needs, and preference for how you receive care can all affect which path makes more sense for you.
When Can You Buy a Medigap Policy?
Under federal law, your Medigap Open Enrollment Period is a one-time six-month period that begins the first month you are age 65 or older and enrolled in Medicare Part B.
During that period, you generally have broader protections when buying a Medigap policy. After it ends, your ability to buy or change coverage can depend on your situation, your state, and whether you qualify for a guaranteed issue right.
Because Medigap enrollment rules are not the same as the annual Medicare Open Enrollment Period, it is worth reviewing your timing before dropping existing coverage or making a change.
Why Compare Medicare Supplement Companies?
When two companies offer the same standardized Medigap plan letter, the core benefits are the same. The premium, however, can vary significantly between insurance companies.
Availability, pricing, household discounts, rate history, and other company-specific factors can also affect which option is a better fit.
We can help you compare the Medicare Supplement options available to you, explain the differences, and decide whether changing coverage makes sense.
Compare Medicare Supplement OptionsQuestions About Medicare Supplement Coverage?
We can help you understand Medigap plan options, compare insurance companies, and review how the coverage fits with your Medicare needs. There is no charge for our services and no pressure to make a change.
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