Medicare Supplement Coverage

What is Medicare Supplement Insurance?

Medicare Supplement Insurance, also known as Medigap, is a type of insurance that can help cover some of the healthcare costs that Original Medicare does not cover, such as copayments, coinsurance, and deductibles. Some Medigap policies also offer coverage for services not covered by Original Medicare, such as medical care when traveling outside the U.S. If you have Original Medicare and purchase a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered healthcare costs, and then your Medigap policy will pay its share.

It’s important to note that a Medigap policy is different from a Medicare Advantage Plan. Medicare Advantage Plans are ways to receive Medicare benefits, while a Medigap policy only supplements your Original Medicare benefits.

Here are some important things to know about Medicare Supplement coverage:

If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
You will pay a monthly premium to the private insurance carrier for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
A Medigap policy only covers one person. If both you and your spouse want Medigap coverage, we can work with you to set up two separate policies.
Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means that the insurance company cannot cancel your Medigap policy as long as you pay the premium.