Medicare Supplement plans, also known as Medigap, are private insurance plans that can help pay for your out-of-pocket costs under Original Medicare. These plans can cover things like deductibles, coinsurance, and copays.
There are 10 different Medigap plans, each with its own set of benefits. The most comprehensive plan, Plan F, covers all of your out-of-pocket costs under Original Medicare. The least comprehensive plan, Plan A, only covers your Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up.
Medigap plans can be a good option for people who want to reduce their out-of-pocket costs under Original Medicare. However, it's important to note that Medigap plans do have a monthly premium. You'll need to decide if the cost of the premium is worth the peace of mind of having your out-of-pocket costs covered.
Here are some of the benefits of having a Medicare Supplement plan:
You can choose a plan that meets your specific needs and budget.
You can see any doctor or hospital that accepts Medicare.
You don't have to worry about referrals or pre-authorization.
You can travel outside of the United States and still have coverage for Medicare-covered services.
If you're considering a Medicare Supplement plan, be sure to compare the different plans and premiums before you choose one. You can also talk to a licensed insurance agent to get help choosing the right plan for you. Call us at (800)323-3436
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