3 Things To Know About Medicare Supplement Plans

If you are at the stage of your life where you have a Medicare plan, you will want to consider getting a Medicare supplement plan. A Medicare supplement plan is also referred to as a Medigap plan. 

Medicare Plan Prior to Medicare Supplement Plan

First, if you want to get a medicare supplement plan, you need to have a medicare plan. You need to be enrolled in a Medicare Part A and a Part B plan. You have to have a base Medicare plan before adding a Medigap plan. A Medigap plan is designed to fill in the gap in your insurance coverage; you need to have a Medicare plan first. 

Medigap is Different Than Medicare Advantage

Second, it is essential to understand that a medicare supplement plan is different than a Medicare advantage plan. A Medicare Advantage plan is where you get your Medicare plan through a private insurance company instead of through the government. A medicare supplement program is about getting additional coverage that exceeds what you get with Medicare Part A and B or with a Medicare Advantage program. Medicare advantage is just giving you Medicare Part A and B coverage through a private insurance company; a medicare supplement plan fills in the gaps in coverage that those two plans provide you with. 

Medigap is Through a Private Company

A medicare supplement plan is offered through a private company. Private insurance is designed to fill in the areas where your regular Medicare plan can leave you feeling a little exposed. It is designed to provide more financial support and more financial coverage. It is designed to give you more coverage; it ensures that all of your medical insurance needs are covered. 

Medigap Helps Fill the Gaps

Medigap insurance is about filling the gaps in your coverage. It is designed to help;p you pay for your copayments with your regular Medicare coverage. It is designed to help;p you with your co-insurance and your deductibles. It enables you to pay for the part of your Medicare insurance that you have to pay for out of your pocket. Those expenses can be intense, and Medigap is here to help fill them. It comes in and pays for things that your regular Medicare doesn't pay for. 

Medical supplement plans are designed to ensure additional medical coverage so that you don't go broke paying your medical bills and don't hold back on getting medical treatment because you are afraid to pay your bills. It is about giving you full coverage to have the support you need to meet your medical needs.