Medicare Supplement Insurance Plans (Medigap)
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Frequently Asked Questions
Medicare Supplement Insurance plans help cover out-of-pocket costs (coinsurance, copays, deductibles) not covered by Original Medicare Parts A and B, such as coinsurance for hospital stays, Part B coinsurance or copays, hospice coinsurance or copays, skilled nursing coinsurance, Part A and Part B deductibles. The government allows private insurance companies to offer Medicare Supplement Insurance plans to provide additional coverage on top of Original Medicare.
There is no difference between Medigap and Medicare Supplement Insurance. They are two different names for the same type of plan. Medicare Supplement Insurance is also known as Medigap because it covers cost “gaps” in Original Medicare.
The cost of Medicare Supplement insurance plans vary by plan type and pricing charged by each insurance company. Plan availability and cost can also depend on the area where you live. When comparing options, be sure to compare the same type of Medicare Supplement Insurance plan, for example a Plan A to a Plan A.
What is the difference between Medicare Supplement insurance plan letters, such as Plan A, Plan G, Plan N?
Medicare Supplement Insurance plans are offered as different plan types letters, such as Plan A, Plan G, Plan N, and more. Medicare Supplement Insurance plans have a defined set of standardized benefits, and each plan type letter covers a different amount of the standardized benefits. Not all plans offer all of these benefits. Some plans may include only partial coverage of certain benefits.Medicare Supplement Insurance standardized benefits include:
- Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
- Part B coinsurance or copayment
- Blood (first 3 pints)
- Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Part A deductible
- Part B deductible
- Part B excess charge
- Foreign travel exchange (up to plan limits)
No, if you want to enroll in a new plan or change your Medicare Supplement Insurance plan after your Initial Enrollment Period, the insurance company offering the Medicare Supplement Insurance plan can determine if they will allow you to enroll at their discretion.
We recommend speaking with a licensed insurance agent to help determine if Medicare Supplement Insurance plans are a good fit for you. Keep in mind that Medicare Supplement Insurance plans only provide added coverage to Original Medicare. If you need prescription drug coverage, you have the option to purchase a separate Part D Prescription Drug plan. Also, Medicare Supplement Insurance plans do not typically include dental, vision, or hearing benefits and you may wish to purchase separate coverage for these needs.
See our guide for Medicare Supplement Insurance Plans to learn more.