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– Medicare Supplement –

What is Medigap Insurance ?

Medigap is known as Medicare Supplement plan that helps fill “gaps” in your Original Medicare coverage. It is sold by private insurance companies. Remember, Original Medicare Part A and Part B provide insurance coverage for health-related expenses, but they do not cover all the health care costs you may have.

Generally, Medicare Parts A and B cover about 80% of the cost (After deductibles are met). A Medicare Supplement Plan is not the same as a Medicare Advantage Plan and you cannot have both at the same time.

Are you concerned about the costs that Medicare does not cover?

Many people are.  That’s why most Medicare recipients select a Medicare Supplemental Insurance plan, also known as Medigap insurance. Medicare Supplement Plans help cover the “gap” between what Original Medicare pays and what you are expected to pay out of your own pocket.

Medigap plans, depending on the level of coverage selected, can cover some or all your out-of-pocket expenses. Medigap plans have NO NETWORKS and require NO REFERRALS.

Most Popular Medicare Supplement Plans 2022

The most popular Medicare Supplement Plans are Plan FPlan G and Plan N. Plan F is considered the best Medicare plan, because it covers all Medicare approved service 100%. But, Plan F isn’t available to everyone.

Also, Plan G and Plan N offer a ton of value at a lower premium. Below are two great Free Medicare resources, 2022 Medigap Plans Comparison Chart and a link to a published article by Medicare with Melissa, Plan F vs Plan G vs Plan N, which plan is better?

Plan F vs Plan G vs Plan N

What is a Medicare Supplement Plan (Medigap Plan)?

Remember, Original Medicare (Part A and Part B) provide insurance coverage for health-related expenses, but they do not cover all the health care costs you may have. They cover about 80% of the cost.

A Medicare Supplement plan is an optional type of insurance that can be used in combination with Original Medicare (Part A and Part B).  It is a private insurance policy that can help pay for some of the health care costs that Medicare doesn’t cover. This can include out-of-pocket expenses such as copayments, coinsurance, and deductibles.

With health care and out-of-pocket costs for Medicare participants on the rise, a Medicare Supplement plan will help you pay for the 20% of costs that Medicare doesn’t pay for.

All plans are standardized and are regulated by the Federal Government across the county.  Every plan with the same letter designation must provide the same coverage, even though the premium pricing can vary by insurance company.

What is the average cost of Supplemental Insurance for Medicare?

The average cost of Medicare Supplement plans can vary by many factors. Age, location, gender, tobacco use, household discount, plan choice and more is taken into consideration when our agents are looking for the most suitable plan.

For example, a Plan F for male, age 70 that lives in Florida is likely paying a much higher premium for the same 70-year-old male living in North Carolina.

Compare 2022 Medigap Plans by clicking this link now.

You can also call 866-MEDIGAP (633-4427) and one of our licensed insurance agents and have us do the work for you. After a few simple questions are asked, our agents get right to work. We can compare over 25 companies in a matter of minutes and have an application submitted to the carrier the same day, all over the phone.

Medicare Supplement Providers. Medicare Supplement Network

One of the best features about these plans is that they have no networks, and no referrals are required.  You are covered in all 50 states and all US territories.  There is some international coverage too (depending on the plan you choose).

You can go to any doctor, hospital, or facility that accepts Medicare.  You do not need a referral to see a specialist.  These plans are guaranteed coverage for life if your premiums are paid on time and there has been no material misrepresentation on the application.

What does a Medigap Plan cover?

  • Helps cover out-of-pocket costs that Original Medicare doesn’t pay.  Some plans pay all costs.
  • See any doctor who accepts Medicare patients.
  • No referrals needed to see a specialist.
  • Coverage that goes with you anywhere you travel in the U.S.
  • International travel benefits:  Covers emergency care if it begins during the first 60 days.  Pays 80% of the billed cares that are medically necessary after you meet a $250 deductible.  Lifetime limit of $50,000.
  • Guaranteed coverage for life if premiums are paid on time and there has been no material misrepresentation on the application.

What is NOT covered by a Medicare Supplement plan (Medigap)?

Medicare Supplement (Medigap) plans only pay after Medicare has first paid their share of the costs. If Medicare approves a claim and pays the part they owe, the remainder of the bill is sent to your Medicare Supplement (Medigap) insurance company.

Some items that are not covered by Medicare or your Medicare Medigap Plan are:

  • Long-term care or custodial care
  • Routine dental, vision, and hearing exams
  • Hearing aids
  • Eyeglasses or contacts
  • Part D Prescription Drugs

12 Standardized Medicare Supplement (Medigap) plans:

There are 12 different standardized plans in most states.  The Federal Government standardized these plans and created 12 options for consumers:  A, B, C, D, F, G, K, L, M, N.  Each plan covers a different range of costs.

Plan F and Plan G offer high deductible plans too.  In Massachusetts, Minnesota, and Wisconsin, Medigap policies are standardized in a different way.

Does “Standardized Medigap Plans” hurt me or help me?

It helps! Because the plans are standardized, you need to be sure that you are getting the best priced plan in your area.  You can shop multiple insurance carriers for the best rate.

Once you determine which plan is best for you, always compare plan pricing.  One other consideration is the insurance companies financial rating.  There are many companies that have an A or B+ rating.  You should not go with a company that has a low rating.

Medicare Resource below: Medicare Supplement Plans Comparison Chart 2022

2022 Medigap Plan Comparison Chart

Am I eligible for a Medicare Supplement Plan?

To be eligible for a Medicare Supplement Insurance plan, you must meet each of the following requirements:

  1. You must be eligible or enrolled in both Part A and Part B of Medicare
  2. You must be at least 65 years old or live in a state that allows Medigap coverage for people under 65 who have qualifying disability
  3. You must live in a state that sells the plan you are interested in purchasing.  Not all plans are available in every state.

Medicare Supplement Open Enrollment

The best time to enroll in a Medicare Supplemental Plan is during your Open Enrollment Period (also known as your Medicare Initial Enrollment Period). The Medicare Supplement Open Enrollment Period happens for everyone turning 65. It starts 3 months before your 65th, the month of and 3 months after.

During Medicare Initial Enrollment Period, you can choose any Medicare Supplement Plan and your coverage is guaranteed. Your coverage cannot be declined due to current or pre-existing health conditions.

Compare Medicare Supplement Plans 2022

Call us today to compare 2022 Medicare Supplement Plans, 866-MEDIGAP (866-633-4427.

We can compare over 25+ top-rated insurance companies at one time. You can also use our online quote tool to compare Medigap Rates. Click here to compare 2022 Medicare Supplement Plans.

You can also schedule an appointment with a Medicare broker, click here.

Download Our New Medicare Supplement eBook Today

– Medicare Supplement –

 Medicare Supplement Questions & Answers

Medicare Supplement Plan N

Medicare Supplement Plan N

Medicare Supplement Plan N (Medigap Plan N) is a supplemental insurance policy that helps cover some of the costs not covered by Medicare Parts A and B including copayments, coinsurance, and deductibles.

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