Medicare supplements (Medigap) insurance, sold by private companies, can help pay some of the health care costs that Original Medicare doesn’t cover like co-payments, co-insurance, and deductibles.
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What else does Medigap cover?
Some Medigap policies also offer coverage for services that Original Medicare doesn’t cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share.
8 Things to know about Medigap coverage!
8 things to know about Medigap policies
- Applicant must have Medicare Part A and Part B.
- If applicant has a Medicare Advantage Plan, they can apply for a Medigap policy, but make sure they can leave the Medicare Advantage Plan before their Medigap policy begins.
- Applicant pays the private insurance company a monthly premium for their Medigap policy in addition to the monthly Part B premium that they pay to Medicare.
- A Medigap policy only covers one person. If the applicant and their spouse both want Medigap coverage, they’ll each have to buy separate policies.
- An applicant can buy a Medigap policy from any insurance company that’s licensed in their state to sell one.
- Any standardized Medigap policy is guaranteed renewable even if they have health problems. This means the insurance company can’t cancel their Medigap policy as long as they pay the premium.
- Some Medigap policies sold in the past cover prescription drugs, but Medigap policies sold after January 1, 2006 aren’t allowed to include prescription drug coverage. If they want prescription drug coverage, they can join a Medicare Prescription Drug Plan (Part D).
- It’s illegal for anyone to sell an applicant a Medigap policy if they have a Medicare Medical Savings Account (MSA) Plan.
Does Medigap cover everything?
Medigap policies generally don’t cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.