Medicare Supplement Insurance Plans were created to fill in the gaps left by Medicare. That’s why they are called Medigap Plans. These plans do not replace Medicare. They supplement it to limit your out-of-pocket exposure.
Medigap Insurance Plans make your out-of-pocket costs predictable. For instance, with Medigap Plan F, you can fill in virtually all of Medicare’s Part A and B gaps in coverage. You don’t need to worry about unexpected medical bills, because you know what your premiums are and that Plan F is managing Medicare’s out-of-pocket costs. On the other hand, if you have Plan G, you know that you need to cover the annual Part B deductible before Medicare pays for doctor services.
Medicare Supplement Insurance Plans can give you greater flexibility in choosing your doctor. If you need a specialist who charges more than Medicare’s pre-approved set rate, certain Medigap Plans will pick up the different. Be aware, though, that if you sign a private contract with a doctor, neither Medicare or Medigap will pay for Medicare-covered services you get from a doctor who does not work with Medicare.
To learn more about the 10 different Medigap Insurance Plans that are available in most states, take a look at our educational resources online. If you need to get an independent professional opinion on how the plans compare to your needs, you can get that here at no charge. Just give us a call to arrange for a private consultation.