Medicare Supplement

What are Medicare Supplements?

A Medigap policy helps cover things like copayment, coinsurance, and deductibles. However, you will still pay both the Medigap policy the Part B’s monthly premiums.

Medicare Supplement plans are standardized into ten different plans in the United States. These plans are labeled Plan A through N, which will differ between companies. While companies are not required to offer all ten plans, they must provide at least Plan A, Plan C, or Plan F.

To be eligible for Medicare Supplements, you must have Medicare Parts A and B. Like Medicare Parts A and B, a Medigap policy can only cover one person. However, you cannot purchase a Medicare Supplement plan if covered under Medicaid or Medicare Advantage.

What is covered by Medigap?

Medigap policies are offered through private insurance companies, so the coverage varies.

As these plans are standardized, they will provide, at the very least, the essential benefits of a Medigap plan. The main difference will usually come from what you will pay for your premium. For example, while Plans F and G may cover 100% of the remaining cost, they will have high premiums.

As Medigap is intended to assist with the out-of-pocket costs that Original Medicare does not cover, most plans will cover the same things that Original Medicare does, and conversely, will not cover the things it does not. These include hearing aids, eye exams, glasses, dental, custodial care, long-term care, and prescription drugs (which must be covered under Medicare Part D).