A Medigap plan is different from a Medicare Advantage Plan in that it supplements your Original Medicare benefits, rather than getting you Medicare benefits. Here is some information to help you decide if a Medigap insurance plan is right for you.
What Is It: Medigap is a policy that is offered by private companies to help cover some of the costs of healthcare that Original Medicare does not cover (co-payments, co-insurance, deductibles, and the like). Some plans also offer coverage for services that Medicare does not, like medical care that protects you even when you travel outside of the United States.
Things You Should Know:
- To get a Medigap plan you must have Medicare Part A and Part B.
- You are allowed to buy a Medigap policy from any insurance company in your state that is licensed to sell one.
- If you have a Medicare Medical Savings Account (MSA) Plan, no one can sell you a Medigap policy because it is illegal to do so.
- With Medigap, you pay the private insurance provider a monthly premium, in addition to the monthly Medicare Part B premium.
- Medigap policies only cover one person. To get Medigap coverage for multiple people, you will have to buy separate policies for each person.
- Medigap plans are not allowed to include coverage for your prescription drugs, so if you need this coverage you can join a Medicare Prescription Drug Plan (Part D).
- Medigap policies usually do not cover long-term care, vision care, dental care, hearing care, or private nursing services.
Contact SeniorChoices NW in Wilsonville, Oregon to learn more about Medicare Supplement Insurance or Medigap. Our priority is to ensure that you receive the protection and coverage you deserve.