Medigap Plans

WHAT ARE MEDICARE SUPPLEMENTS?

Medicare Supplements, also known as Medigap, help pay for costs not covered by Original Medicare. Each plan is offered by private insurers, has the same minimum set of benefits, and varies in premium cost.

OUR MEDICARE SUPPLEMENT CARRIERS


Medicare Supplement insurance covers the out-of-pocket “gaps” in Original Medicare. That’s why it’s often known as Medigap.

Just like Medicare Part C and D, private insurers sell Medigap plans that are approved by the federal and state governments.

What Do They Cover?

Unlike other parts of Medicare, Medigap doesn’t cover health benefits (that’s what Original Medicare is for). Instead, Medigap mainly helps pay for the deductibles and copays you’re responsible for out of your own pocket.

There are 10 Medigap plans to choose from. They’re labeled by letters A, B, C, D, F, G, K, L, M, and N (Plans E, H, I, and J are no longer available, with Plans C and F following in 2020), and each plan letter has different coverage benefits.



The minimum benefits of Medigap plans are standardized across the country.


Conveniently, the minimum benefits of these plans are standardized across the country. There are only three states that are exceptions: MassachusettsMinnesota, and Wisconsin. A licensed sales agent can help you navigate the different plans in those states.

Please note, Medigap plans will not cover costs for Medicare Advantage, Medicaid, VA benefits, or TRICARE.

How Do You Get a Medigap Plan?

To qualify for a Medicare Supplement, you must first enroll in Medicare Parts A and B. Once you turn 65 and enroll in Original Medicare, you will enter your personal Open Enrollment — the six-month period starting the first day of the month after you turn 65 and have a Part B plan. This is the best time to sign up for a Medigap plan.


Your Open Enrollment window is the best time to sign up for a Medigap plan.


You do have the option to enroll outside of your Open Enrollment, but acceptance is not guaranteed, and you may have to pass a health underwriting exam. You can learn more about when you can buy Medigap plans here.

What Does It Cost?

Medigap plan monthly premiums differ depending on several factors.

  • Age

  • Location

  • Tobacco use

  • Plan type (A through N)

Different insurers also vary their monthly rates depending on actuarial models, though many offer discounts to those who live with a spouse.

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Want to compare plans in your area? Our Medicareful Plan Finder was made for that! Just enter your zip code and filter by Medicare Supplement. You’ll see a list plans in your area, along with their premiums. Then you can contact a local licensed sales agent to get expert analysis of each plan.

Further Reading

Medicare.gov — What’s Medicare Supplement Insurance (Medigap)?


THE PROCESS TO BUY

Whether you already have a Medicare Policy and are shopping around during Annual Enrollment or are just aging into the system and are tired of being bombarded with mailers, we have the expertise and tools to make the buying process easy and educating.


MEDICAREFUL COMPARISON TOOL

Want more information on the plans we offer, but like to do your own research first? Check out our Medicareful comparison tool where you can do side-by-side comparisons of some of the more popular plans in the area. Though we always suggest speaking with an agent first to make sure all of your needs are covered, we are happy to provide this tool at no charge. For Medicare Supplements, please contact us directly for rates from AARP, United, & United American.

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CONTACT US

Medicare is a difficult land to navigate. As such, we always suggest that our clients shop around every year and speak directly to an agent who can help them decide which plans are right for them. While basic benefits (Co-Pays, Out-of-Pocket Max, etc.) are important, we always suggest that the two major factors when buying a plan are whether their Doctors are in-network and whether their medications are covered. It’s our job to help you figure this out so please contact us today!

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