What is a Medicare Supplement?
Medicare Supplements, also known as Medigap policies, are sold by private insurance companies to help you cover the out-of-pocket costs left behind by Medicare.
When you have a Medigap policy, Medicare pays up to its limit on your medical expenses. Then, your Medicare Supplement plan starts to help with covering costs up to the plans limit. That limit usually covers what Medicare didn't, however, that will depend on which policy you select.
What do Medicare Supplements cover?
Original Medicare only covers 80% of your Part B expenses. The other 20% comes out of your pocket if you do not have a Medicare Supplement policy also referred to as Medigap. If you were to have a lengthy stay in a hospital or expensive treatments at outpatient facilities, you can see how that could add up.
Medicare Supplements pay that 20% for you.
Is there anything not covered by Medicare Supplement Plans?
Things that are not covered by Original Medicare on your Medicare Supplement:
Which Medigap Plans Can I Choose From?
Plans that are highlighted in green above are the 3 most popular plans that clients choose when selecting a Medigap/Medicare Supplement plan.
Note: Plan F is only available to those people that enrolled in Medicare prior to January 1, 2020.
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Medicare disclaimer: This is a solicitation of insurance. A licensed insurance agent is contracted with multiple carriers offering Medicare Advantage and Prescription Drug plans each with a Medicare contract. Enrollment depends on contract renewal. Contact may be made by a licensed insurance agent or insurance company. We do not offer every plan available in your area. Currently, we represent 10 organizations which offer 90 products in your area. Please contact
medicare.gov or 1-800-MEDICARE (TTY:1-877-486-2048), or your local State Health Insurance Program (SHIP) to get information on all of your options.
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