Medicare Supplement Insurance, commonly called Medigap, helps cover some of Original Medicare's out-of-pocket costs. In 2017, there are up to 10 standardized Medigap plans to choose from in most states, each providing a unique mix of basic benefits. Finding the right Medigap plan for you depends on numerous factors. We can help.
2017 Medigap Policies
Most states offer up to 10 standardized Medigap plan types to choose from, labeled A, B, C, D, F, G, K, L, M and N. Every insurance company that sells Medigap policies must offer Medigap Plan A and either Plan C or Plan F.
All plans that share a letter must offer the same basic benefits, regardless of the state you live in or the insurance company you buy from. However, insurance companies set their own prices, so the cost of Medigap plans can vary from insurer to insurer (even for plans that have the same benefits).
The following chart shows the basic benefits of all 10 standardized Medigap plans.
When to Buy Medigap
The best time to buy a Medigap policy is during your six-month Medigap open enrollment period. During this period, you can buy a Medigap policy regardless of your health status. Your open enrollment period automatically starts the day you are both 65 years or older and enrolled in Medicare Part B. If you enroll after your open enrollment period, a Medigap policy may be more expensive, or you may not be able to buy one at all.
As long as you’re paying your premiums on time, your insurance company is required to renew your Medigap policy regardless of any health issues.
Be certain that you've taken all your health care needs into consideration before selecting a Medigap policy. We can talk you through all of your Medicare Supplement Insurance options for 2017 and help you select the policy that meets you needs. Speak with a licensed agent at 888-264-0148.
To learn more about Medicare Supplement Insurance, read through our guide Comparing Medigap Plans.