Medicare Supplement Plans - Medigap
A Medicare Supplement Insurance (Medigap) plan helps pay some of the out-of-pocket health care costs that Original Medicare DO NOT cover. Such as Coinsurance, Copayments, and Deductibles.Including coverage when traveling outside of the United States.
Medigap policies don't cover everything, such as long-term care, vision or dental care. Some Medigap policies purchased prior to January 1, 2006, covered prescription drugs. Plans offered today DO NOT include any prescription drug coverage. These policies are sold by private companies contracted with Medicare.
Medigap plans are "standardized" in that, every policy must adhere to state and federal laws designed to protect the consumer. These policies must be clearly identified as "Medicare Supplement Insurance Plans," identified in most states by letters. There are 10 Standard Medicare Supplement Plans to choose from.
These policies are offered through private insurance companies and each insurance company decides which Medigap policies it wants to offer, subject to state law.
How Do I Get a Plan?
Medigap plans are offered through private insurance companies licensed in the state where you reside. A monthly plan premium is charged, in addition to the monthly Part B premium that you pay Medicare. A Medigap policy can only cover ONE person, and married couples must purchase separate policies. Medigap policies "guaranteed renewable" and can't be canceled by the insurance company so long as you pay the premium.
You may qualify for Extra Help if your monthly income is below $1538/individual or $2078/couple. (2020)