Medicare supplements insurance (Medigap) is a type of health insurance coverage sold by private companies. It\u2019s designed to help cover some of the costs that Original Medicare (Part A and Part B) doesn\u2019t cover, such as copayments, coinsurance and deductibles.<\/p>\n
You must be enrolled in Original Medicare (Parts A and B) to purchase a Medigap policy. You must be 65 years or older, or under 65 and receiving disability benefits.<\/p>\n
The best time to buy a Medigap policy is during your Medigap open enrollment period, which lasts for six months, starting the first month you have Medicare Part B and are 65 or older. During this period, you have the right to buy any Medigap policy sold in your state, regardless of health conditions.<\/p>\n
Medigap policies are standardized and labeled by letters (A through N) in most states. Each plan offers coverage for specific potential out-of-pocket health care costs. Each plan has a monthly premium. Your agent can help you use the Medigap comparison chart to evaluate which plan best meets your needs.<\/p>\n
Once you\u2019ve chosen a plan and an insurance company, your agent will help you contact the company to apply.<\/p>\n
Medigap policies cover only one person. If both you and your spouse need coverage, you will each need to buy separate policies.<\/p>\n
Medigap policies sold after 2005 do not include prescription drug coverage. If you need this, you can join a Medicare Part D plan. Your agent can help you get Part D quotes and compare coverage options.<\/p>\n
If you already have a Medigap policy and want to switch plans, be aware that you may face medical underwriting, which could affect your eligibility and premiums.<\/p>\n
For more detailed information, visit Medicare.gov or contact your State Health Insurance Assistance Program (SHIP).<\/p>\n