As the name implies, Medicare Supplement Insurance plans fill in the gaps of Medicare’s Part A and B coverage. Remember that Medicare only pays for 80 percent of doctors’ fees even if they accept Medicare. There are 10 different Medigap Plans and certain ones pick up that remaining 20 percent of doctor bills. If you need a specialist who charges higher rates than Medicare covers, certain Medigap policies will cover the excess charges, too.
To be able to get a Medigap Plan, you need to be enrolled in Medicare Part A and B. If you have a pre-existing health problem, better enroll during Medigap open enrollment when you cannot be charged higher premiums or be denied of coverage because of health problems. Open enrollment is the first six months when you are at least 65 and enrolled in Part B.
If you need a “crash course” to help you make that decision, join us for a free, live teleseminar (over the telephone) at the beginning of the each month. You’ll have a chance to ask individual questions or just learn from the questions others are asking. With 10 kinds of Medigap Insurance and even more Medicare Advantage Plans, it really pays to get all the information available before you sink your hard-earned cash into a plan.
Medigap Advisors can also help by researching the coverage options that are available where you live. All states have some form of Medigap Insurance, but the availability of Medicare Advantage Plans varies regionally. Run our instant quotes to see instantly which plans are available in your state.