Medicare Supplement Insurance fills in the gaps of your Original Medicare plan. Also called a “Medigap” policy, the plan helps pay for your out-of-pocket costs for Medicare Parts A and B. Choose from over 10 standard Medigap policies, labeled “A” through “N.”
Unlike parts A (hospital insurance) and B (medical insurance) of the Medicare policy, Medigap isn’t a government benefit. They are insurance policies sold by private companies that reduce medical expenses for Parts A and B. You have the option whether you want to secure this type of coverage or not.
In general, Medicare supplement policies help with cost-sharing, such as co-payments, co-insurance, and deductibles.
Medigap, however, does not cover long-term care such as routine vision, dental or hearing care, hearing aids, nursing home care, eyeglasses, or private-duty nursing.
Medicare Parts A and B are required in order to obtain Medigap Insurance.
This is done through a private insurance company that you will pay your monthly Medigap premium through. It's in addition to your Part B premium. Call our agent to find out more information on Medigap and how to pay your premium.
Since a Medigap policy only cover one person, your spouse will need to purchase a separate policy - we can help with that as well.
For more information about Medigap plans, get in touch with us today.