Medicare Supplement Insurance Plans

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Medicare Supplement Insurance is popular in the United States because of the number of Original Medicare out-of-pocket health care costs it can help pay for. Also called Medigap, these plans help cover deductibles, copays, coinsurance and other fees that can add up quickly.

Learn more about how Medicare Supplement Insurance can help make your health insurance costs more predictable.

Medigap Policy Benefits

Medicare Supplement Insurance offers a number of potential cost-savings benefits. Medigap plans are sold by private insurers, so the cost of plans can vary based on several factors. The basic benefits of each type of standardized Medigap plan, however, are the same across plan type.

Medicare Supplement Insurance plans can help cover a number of costs, including:

  • Medicare Part A coinsurance costs, which can add up quickly for inpatient care in hospitals, skilled nursing facilities or mental health care facilities.
  • Medicare Part B coinsurance, which is typically 20 percent of all Medicare-approved costs of medical services after the Part B deductible has been met.
  • The costs for the first three pints of blood used in a transfusion.
  • Medicare Part A coinsurance or copayment for hospice care.

There are additional basic benefits that may be offered by different types of Medicare Supplement Insurance plans. Use the chart below to compare plan benefits.

2017 Medigap Plans Chart

Additional Medicare Supplement Insurance Information

As you compare Medigap plans and consider purchasing Medicare Supplement Insurance, keep the following information in mind:

  • Your spouse will need a separate Medigap plan if he or she also wants Medicare Supplement Insurance benefits.
  • The basic benefits of Medigap plans are standardized. For example, one insurance company selling Medigap Plan F must offer the same basic benefits as a different company selling Medigap Plan F in another state.
  • If you develop a health issue while enrolled in a Medigap policy, your policy can still be renewed. As long as you continue to pay your Medicare Supplement Insurance plan premiums on time, your policy is guaranteed renewable.
  • If you’re enrolled in a Medicare Advantage plan, you cannot also have a Medigap plan at the same time.
  • The most comprehensive Medigap plan is Plan F. It’s the only plan that offers coverage for all nine benefit areas. 

Speak with a licensed agent at 888-264-0148, or read through our Medigap Comparison Guide to learn more.

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Sources:

Medicare.gov: https://www.medicare.gov/supplement-other-insurance/compare-medigap/compare-medigap.html
Medicare.gov: https://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html
KFF.org: http://kff.org/medicare/issue-brief/medigap-enrollment-among-new-medicare

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