Medigap Plans / Medicare Supplement

Medigap Plans / Medicare Supplement are health insurance policies sold by private insurance companies to fill the “gaps” in Original Medicare Plan coverage (Medicare.gov).  These Medigap Plans / Medicare Supplement policies offer several different options to choose from. Prior to June 1, 2010 the options include plans A – L, excluding H and I. Starting June 1, 2010 the options will consist of plans A – N, excluding H and I and newly eliminated E and J. The coverage of these Medigap Plans / Medicare Supplement policies range from very basic, only covering Medicare Part A Coinsurance, some preventive services, and first 3 pints of blood, to covering almost everything left after Medicare Part A and B pays, including coinsurance and deductibles. All Medigap Plans / Medicare Supplement policies are the same with every company, example: Plan F with one company covers the exact same as Plan F with another company.

Medigap Plans / Medicare Supplement policies can be added or changed anytime throughout the year (subject to health questions), unlike Medicare Advantage Plans. Everyone is considered a guaranteed – issue when they first become eligible along with other specific periods specified in CMS’s “Choosing a Medigap Policy”. These guaranteed – issues periods are Open Enrollment Period and Special Enrollment Period. It is very important to know your Medicare options when first eligible to ensure you are making the right decisions and feel confident at the same time.