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Medicare Supplement Insurance

Personalized Medicare Supplement Plan Comparison


What is Medicare Supplement Insurance?

 

Medicare Supplement Insurance is a form of private health insurance that helps cover certain Medicare out-of-pocket costs such as deductibles, copayments, and coinsurance. 

 

Over 14 million Americans had a Medicare Supplement Insurance plans in 2018.

 

Medicare Supplement insurance is available to those people age 65 and older enrolled in Medicare Parts A and B and in some states to those under age 65 eligible for Medicare due to disability or End Stage Renal disease. Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program.

 

What Part of Medicare is Supplemental?

 

Medicare Supplement (Medigap) plans are designed to help pay your share of health-care costs under Medicare Part A and Part B. For example, they may pay your Medicare Part B coinsurance for Medicare-approved doctor visits and lab tests.

 

How Many Medicare Supplement Plans are Available?

 

Summary: Medicare Supplement Insurance plans help cover your out-of-pocket Medicare costs. There are 10 Medicare Supplement plans that may be available to you, each providing different level of benefits. 

 

How Does Medicare Supplement Insurance Work?

 

Your 2021 Medicare Costs

 

Without Medicare Supplement:

 

  • Medicare Part A Deductible: $1,484 per Benefit Period
  • Medicare Part A Coinsurance for Inpatient Hospital Stay: Up to $742 per Day
  • Medicare Part A Coinsurance for Skilled Nursing Facility Care: Up to $185.50 per Day
  • Medicare Part B Copayment: Typically 20% of the Medicare approved amount
  • With Medicare Supplement Insurance Plan G: You Have $0 Out of Pocket Costs for each of the above.

  

If you are currently enrolled in Original Medicare, you can apply for a Medicare Supplement plan at any time.


Why Should I Use MedicareSupplement.com?


MedicareSupplement.com helps you learn about your Medicare coverage options and find a plan, all at once. Our licensed agents can answer your questions and help you find the right Medicare Supplement Insurance plan to fit your needs and budget.


Do I Have to Pay for Your Help?


No, we provide our services at no charge to you. We are happy to answer your Medicare-related questions, help you compare your plan options, and decide if Medicare Supplement insurance is right for you.


What if I Don't Know What Supplemental Plan I Need?


Our US-based agents can help you assess what's important to you and find an affordable plan that gives you peace of mind knowing you are covered.


What if I Already Have a Medicare Supplement Insurance Plan?


If you already have a Medicare Supplement insurance plan, but want to change plans or lower your premiums, you are in the right place. You can change your Medicare Supplement insurance plan any time of the year. 


How Do I Get Started?


We can help you through the entire process, from finding the perfect plan to submitting your application.

 

Compare Medicare Supplement Plans and Pricing

 

Top Pick – Medicare Supplement 

 

They work with the Nation’s most trusted insurance providers, including Aetna, Mutual of Omaha, Cigna and Humana, among others, to help you find the best medicare supplement insurance plan at the most affordable price. Get a Free Quote Now.

 

What is Medicare?

 

Medicare is a national health insurance program in the United States, begun in 1966 under the Social Security Administration and now administered by the Centers for Medicare and Medicaid Services.

It primarily provides health insurance for Americans aged 65 and older, but also for some younger people with disability status as determined by the SSA, and people with end stage renal disease and amyotrophic lateral sclerosis.  You can learn more at Medicare.gov

Resource:  https://en.wikipedia.org/wiki/Medicare_(United_States)


Medigap Explained


Medigap refers to various private health insurance plans sold to supplement Medicare in the United States.

Medigap insurance provides coverage for many of the co-pays and some of the co-insurance related to Medicare-covered hospital, skilled nursing facility, home health care, ambulance, durable medical equipment, and doctor charges.

Medigap's name is derived from the notion that it exists to cover the difference or "gap" between the expenses reimbursed to providers by Medicare Parts A and B for the preceding named services and the total amount allowed to be charged for those services by the United States Centers for Medicare and Medicaid Services.

Resource:  https://en.wikipedia.org/wiki/Medigap

  

What is the Difference Between Medicare Supplement and Medigap?

 

Medigap is Medicare Supplement Insurance that helps fill "gaps" in Original Medicare and is sold by private companies. Original Medicare pays for much, but not all, of the cost for covered health care services and supplies. 

A Medicare Supplement Insurance (Medigap) policy can help pay some of the remaining health care costs, like:

  • Copayments
  • Coinsurance
  • Deductibles

 

Note: Medigap plans sold to people who are newly eligible for Medicare aren’t allowed to cover the Part B deductible. Because of this, Plans C and F aren’t available to people newly eligible for Medicare on or after January 1, 2020.

If you already have or were covered by Plan C or F (or the Plan F high deductible version) before January 1, 2020, you can keep your plan.

If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to buy one of these plans that cover the Part B deductible.

Some Medigap policies also cover services that Original Medicare doesn't cover, like medical care when you travel outside the U.S. 


If you have Original Medicare and you buy a Medigap policy, here's what happens:

Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then, your Medigap policy pays its share.


Things to Know About Medigap Policies 


  • You must have Medicare Part A and Part B.
  • A Medigap policy is different from a Medicare Advantage Plan.  Those plans are ways to get Medicare benefits, while a Medigap policy only supplements your Original Medicare benefits.
  • You pay the private insurance company a monthly premium for your Medigap policy. You pay this monthly premium in addition to the monthly Part B premium that you pay to Medicare.
  • A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.
  • You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.
  • Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you pay the premium.
  • Some Medigap policies sold in the past cover prescription drugs. But, Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
  • If you buy Medigap and a Medicare drug plan from the same company, you may need to make 2 separate premium payments. Contact the company to find out how to pay your premiums.
  • It's illegal for anyone to sell you a Medigap policy if you have a Medicare Advantage Plan, unless you're switching back to Original Medicare.


Medigap Policies Don't Cover Everything


  • Medigap policies generally don't cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.
  • Insurance Plans That Aren't Medigap
  • Some Types of Insurance aren't Medigap Plans, they include:
  • Medicare Advantage Plans (like an HMO, PPO, or Private Fee-for-Service Plan)
  • Medicare Prescription Drug Plans
  • Medicaid
  • Employer or union plans, including the Federal Employees Health Benefits Program (FEHBP)
  • TRICARE
  • Veterans' benefits
  • Long-term care insurance policies
  • Indian Health Service, Tribal, and Urban Indian Health plans


Dropping Your Entire Medigap Policy (Not Just The Drug Coverage) 


You may want a completely different Medigap policy (not just your old Medigap policy without the prescription drug coverage). Or, you might decide to switch to a Medicare Advantage Plan that offers prescription drug coverage.

If you decide to drop your entire Medigap policy, you need to be careful about the timing. When you join a new Medicare drug plan, you pay a late enrollment penalty if one of these applies:

You drop your entire Medigap policy and the drug coverage wasn't creditable prescription drug coverage

You go 63 days or more in a row before your new Medicare drug coverage begins


Resource:  https://www.medicare.gov/supplements-other-insurance/whats-medicare-supplement-insurance-medigap

 

Compare Medicare Supplement Plans and Pricing

 

Top Pick – Medicare Supplement  

They work with the Nation’s most trusted insurance providers, including Aetna, Mutual of Omaha, Cigna and Humana, among others, to help you find the best medicare supplement insurance plan at the most affordable price. Get a Free Quote Now.



Medicare Supplement Insurance


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