Medigap plans are health insurance plans that are designed to fill in the “gaps” in coverage from Medicare. They come in several different forms and are designed to give people more coverage options than just the basic Medicare plans. By purchasing a Medigap plan, you can limit the chances of having to pay a large amount of money out of pocket when you need medical service.
What it Covers?
Medigap can cover a lot of different things, depending on which plan you choose. Some plans are designed to put a cap on the out of pocket amount that you might have to pay. Others change the coinsurance percentage that you’d have to pay for services that you need. Some Medigap plans pay more for medical testing and treatments. Some pay more for hospital visits and treatments, while others focus more on doctor visits, medication, and home care.
Choosing a Policy
When you are in the market for a Medigap policy, there are a lot of different coverage areas that you have to look at. There is no “one size fits all” policy. However, all of the different sections of Medicare are standardized and what they can offer patients. So a Pennsylvania Medicare supplement is not going to vary in coverage from the same plan purchased in Georgia. The key differences how much they cost from one provider to the next and the type of service that you receive in exchange for your premiums. This means that you’ll have to shop around a bit and look at the various providers to see what they have to offer you.
When making your decision as to which Medicare supplemental insurance you buy, you want to pick the areas that you think you’ll need the most help in. This is different for everyone based on risk tolerance, financial standing, and what you can afford. Once you find a policy, apply and get started.