Category Archives: Medigap Insurance Plans

Understanding The Differences Of Medigap Policies And What They Have To Offer

There are a number of questions and concerns when it comes to enrolling in Medicare and Medicare Supplemental Plans.  Three main questions that seniors want answers to are:

  • What parts of the four different parts of the Medicare program covers stays in the hospital?
  • What differences are seen between Original Medicare (Medicare Part A & Part B), Medicare Advantage, and Medicare Supplemental Plans?
  • Which parts of Medicare provide prescription drug coverage?

Original Medicare has four basic elements:

  • Medicare Part A – Hospital Insurance
  • Medicare Part B – Health Insurance
  • Medicare Part C – Medicare Advantage
  • Medicare Supplemental Insurance Plans – Medigap

Medicare Supplemental Insurance Plans, Medigap, is private health insurance plans that seniors can purchase to cover the “gaps” that are left after enrolling in Medicare Part A and Part B.  There are ten different Medigap plans to choose from.  Each plan covers different elements that are not covered by Original Medicare such as doctor’s office co-payments, skilled nursing facility co-insurance, and certain out of pocket hospital costs not covered.

There are ten different types of Medigap Plans designated by one of ten letters of the alphabet.  The benefits within the different plans are the same no matter what insurance company that they are purchased from however, each of the ten plans covers something different.  Premiums for each of the ten policies also vary depending on who the coverage is purchased through.  Medigap Plan F can essentially cost $110 a month from Company A while Company B has the same exact plan for sale for $150 a month.  This is why it is super important for Medicare participants to compare Medigap plans and the premiums charged by different insurance companies.

In order for participants to be eligible to purchase supplemental insurance, Medicare enrollees must be enrolled in both Medicare Part A and Medicare Part B.  Medigap is renewable from year to year no matter what the participants current state of health is.  Monthly premiums will be charge based on where you live, your current age, the plan you select, and the insurance provider chosen.

Another option that is provided to seniors is Medicare Advantage.  This option is chosen in place of Original Medicare and Medigap.  Participants often choose Medicare Advantage over Original Medicare and Medigap because of the lower monthly premiums.  Although the premiums are lower, out-of-pocket expenses may be higher.  It is important to also note that Medicare Advantage offers prescription drug coverage at no additional cost whereas Original Medicare and Medigap requires you to purchase prescription drug coverage, Medicare Supplemental Insurance Plan D.  The advantage of Original Medicare and Medigap Supplemental Plans is that there is a larger network of providers to choose from.

There is a lot to consider when it comes to the federal government sponsored health insurance plan.  Seniors over 65 have the option to choose between purchasing Medicare Plan A, Medicare Plan B, Medicare Advantage, and Medicare Supplemental Insurance Plans; it is crucial to look at all of the option when considering your current and future health care needs as well as your budget.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Benefits of Medicare, Medigap, and Medicare Advantage Health Insurance

Most people do not quite understand how Medicare and Medigap work and as much as there are many resources about the two, all the information can be overwhelming and confusing. In this article, we will evaluate each and the benefits you get when you pick one of over the other.

Understanding Medicare and Medigap

Everyone, over the age of 65 in the US can apply for Medicare insurance coverage.  It is important to note is that the coverage is divided into four parts. Part A provides hospital care, Part B covers doctors’ fees, equipment used in the treatment and medical procedures. Part D covers prescription drugs which cost over and above your cover especially for older patients and supplemental insurance plans that take care of medical expenses that exceed your cover so that you don’t have to tap into your savings to get treatment.

Medigap is additional health insurance coverage that participants purchase from private insurance companies to help take care of medical costs that are not covered by your Medicare coverage. These include things like deductibles, co-payments and healthcare should you seek treatment outside the United States. It is important to note that a Medigap policy does not cover dental care, vision care, hearing aids, or eyeglasses.

Medigap policies can only be given to individuals who are already under Medicare cover Part A and Part B. If you already have a Medicare Advantage plan, you cannot qualify for a Medigap plan.

Medigap vs Medicare Advantage: Which will serve your interests better?

  1. Medigap coverage costs more per month but it might cost less than out of pocket payments that you might be forced to pay for a Medicare Advantage plan. On the other hand, a Medicare Advantage plan will insure more medical services and cost less in the long run.
  2. Medicare Advantage covers, limit the choice you have when deciding which doctors to see from which health facilities. Conventional Medigap and Medicare covers on the other gives you more leeway because you can get treatment from any medical center that accepts the cover.
  3. Medicare Advantage cover is operational within specific jurisdictions. Meaning should you need medical attention while away from home, it will not be useful for you. Medigap, on the other hand, covers you in every state in the U.S and even abroad to specified regions.

Choosing the Right Plan For You

Ultimately whether you choose Medigap or Medicare, the key to having the best insurance policy that your money can buy for your specific healthcare needs.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Find the Best Medigap Policy with These 5 Easy Steps

Choosing the right Medigap policy is important if you are looking to save on your health-related costs in the long run. In this article, we break down choosing the right Medigap policy in 5 simple and easy steps:

1: Evaluating Your Health Care Costs

It’s important to do a thorough analysis of what you’ve spent on healthcare annually. Also try to sketch out an idea of how much your future health costs will come to and add them to your list. Finally, also make sure to add any costs that covered the services offered by Medigap plans.

2: Comparing and Reviewing Medigap Plans

Make sure to go through the Medigap Plan from A to N to determine which plans are most apt for your situation. Cross compare the plans with each other and do a careful analysis of which one is ideal for you. Also, be aware that the Plans J, I, H and E were no longer sold after May 2010. However, if you already bought any of these plans before June 2010, you’ll be allowed to move forward with it.

3: Finding the Medigap Insurance Company

Do your research and find out the insurance company that offers Medigap plans in your State. You can contact your State Health Insurance Assistance Program (SHIP) or your State insurance department for guidance. These companies are also listed by Medicare Options Compare.

4: Comparing Each Insurance Company

Take some time, do a thorough research and then choose your insurance company carefully. You’ll probably have a range of options to choose from, and you must consider a bunch of factors before you move on with your decision.

Costs are one the most important factors when it comes to choosing companies. Find out the premium being charged by the company for the Medigap plan, compare with your other options and then choose. You will also want to look for issue-age-rated and community-rated policies with each company. These policies might make the costs lesser for you as you cross a certain age and hence can end up being a deal breaker. Also use independent rating services to gauge the financial stability and soundness of the company you’re considering. Companies with an A rating are generally considered to be ideal choices. Finally, also make sure to go through any complaints with the company under consideration. You can contact your Department of Insurance to check if they have received any complaints about a company.

5: Choosing the Right Insurance Company

Once you’ve gathered all the information you need and done adequate research on the companies and the policies involved, make sure you arrive at a sound and informed decision. Don’t just depend on information you find on the Internet or in the library: talk to people who you trust and try to figure out which company is preferred in your area.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Nine Important Facts That You Should Know About Medigap

Choosing a Medigap Plan can be challenging. Be aware that one size does not fit all and not all plans are going to be created equal. Different personal circumstances will certainly play a part in determining what type of policy would be suitable for them.

It is always important when choosing a Medigap plan that you have your eye on the long-term benefits that that plan will provide. This is simply because switching plans can be a bit of a process and one that can only be done during open enrollment.  It is always better if you can fulfill all your needs with the original plan that you choose. When choosing a Medigap plan, there are certain things that you should know. Here, we look at nine important facts that you should know about Medigap

  • The aim of Medigap is to take care of the things Medicare does not cover hence, bridging the gaps. You will pay an additional amount to get this type of policy on top of your Medicare premiums. Also, before you can purchase a supplemental policy, you must first be enrolled in Medicare Part A and Medicare Part B.
  • Keep in mind that your Medigap policy does not cover your spouse. If you both need coverage, you will have to buy two separate policies. This confuses some people because traditional insurance often covers the spouse.
  • Medigap policies are only available to individuals who already have Medicare Part A for free hospital services and Medicare Part B for doctor services. Each plan covers one only individual, meaning you and your spouse will have to purchase separate Medigap policies.
  • Medigap has 12 standard plans, through A to L, that offer different levels of health coverage and benefits. Although different insurance companies sell these policies, they offer the same Medigap plan benefits. Not all Medigap policies may be available in your state.
  • It pays to compare companies offering Medigap insurance before committing to any individual plan. This is because not all companies carry all 12 plans, so an insurance agent may be steering his or her customers towards one of the plans that company offers when a different plan might be preferable for you.
  • If you intend to buy a Medigap plan, it is important to note that you must enroll within the open six-month enrollment period that starts on the first day of the month in which you turn 65 and enroll in Medigap. During this period, insurance companies cannot use medical underwriting to deny you Medigap coverage or increase premiums due to your health or apply waiting periods even if you suffer from pre-existing medical conditions. However, if you try to buy a Medigap policy after the six-month enrollment period is over, there is no guarantee that you’ll be able to get coverage. There are chances that your rates may climb substantially in case you get covered.
  • For a Medigap plan, you must pay a monthly premium to the insurance company along with your Medicare Part B premium. The cost of the Medigap policy is determined as follows:
  • Community-rated policies charge the same premium to everyone living in that area regardless of age.
  • Premiums in Issue-age-rated policies are based on your age when you first bought the policy, however, the rate doesn’t increase automatically as you age.
  • Attained-age-rated policies are inexpensive at the age of 65, but their rates increase automatically as you age.

Generally, insurance companies establish their own prices and eligibility regulations, so it is recommended to shop around for the plan.

  • Medigap plans cover some of your Medicare co-payments, co-insurance for hospital stays, and some other medical services such as preventive care, at home recovery, etc., thus reducing your out of pocket costs. It is vital to consider that Medigap plans do not cover hearing aids, dental care, eye-glasses, long-term care etc. Prescription drug coverage can be obtained by enrolling in the Medicare Prescription Drug Plan, or Part D. You must decide what type of plan is best for you. In most cases, if you give up your Medigap policy, you won’t be able to get it back.
  • Also, beware of anyone who tries to sell you additional Medicare supplement insurance if you already have this type of policy in place. US law states that it is an offense to try to sell additional policies of this type, as the plans offer a wide range of benefit options and if you choose the right plan, a second plan would be totally unnecessary.

When you are about to face retirement, having a basic understanding of how Medicare works can give you better health care and reduce what you spend on medical services. To be able to get a plan, you need to enroll in Medigap services.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!


Clarifying Doubts About Medigap Coverage

Choosing a Medigap plan can be overwhelming for some seniors. There are many plans that have been formulated by the government; however, that nevertheless, you’d have to choose your plan according to your needs. We are here to help you with that by giving you information and clarifying your doubts about Medigap coverage. Before you enroll in Medigap, please give this post a read for better understanding.

Medigap is a healthcare system that has been produced for the betterment of the senior citizens. There is an original Medicare for your health insurance, but getting supplement plans, which come under the Medigap, is a better idea. This way, you could receive the original benefits of the program as well as get additional coverage.

Choosing a Medigap plan

Medigap plans are labeled by alphabets from A to N that are individually, or combinedly sold by private health organizations.

Medicare Supplement Insurance or Medigap requires you have the part A and the B of the Medicare. When you have these, only then you’d stand eligible for the supplement policies.

When it comes to the trends, the most popular policies in the U.S are the C and F. Both plans are there to cover for the deductibles of Part A that you receive and the Part B. According to the packages, the costs of the hospital, and outpatient costs of the doctor are covered. And if we talk about the limits, these costs are $1,260 and $147 respectively. So, considering all of this, you can hope to receive compensation for anything that comes in the range of costs mentioned.

Which plan is best for you?

Before enrolling in a Medigap plan, you should consider all the options according to your health, family history, and future risk tolerance. You can have a detailed information of the packages or policies on the Medicare website. So, if anyone recommends you any supplemental Medigap plan, do give it a thought first considering your needs.

Drug coverage

It is important for you to note that Medigap plans do not cover any kind of drug prescriptions. Therefore, you cannot rely on these plans to cover those costs. However, this doesn’t mean that there aren’t any other plans which you can use. If you must cover prescriptions, there is a better plan in the form of Medicare Part D – also called the drug plan. You can not only have your prescription costs covered through this part up to a certain limit but can also use other plans with it.

To sum up the above discussion, you can get additional health coverages by getting Medigap supplement plans with your original Medicare Part A and Part B, and Part D if you want your prescription costs to be covered. It is also worthy to note that Medigap does not cover any vision, dental, hearing care, or long-term care.

So, this was all about choosing a Medigap plan. Make sure you choose your plan wisely before enrolling in Medigap.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

How Can You Fully Utilize Your Medigap Insurance Plans?

You may have regular Medicare insurance through federal government, but it is important to remember that this coverage is not an all-inclusive healthcare plan. There are gaps left in Medicare Part A and PartB coverage that can be covered with the purchase of additional supplemental insurance. You may have heard about friends or colleagues who have chosen to enroll in Medigap. Medigap is a form of health insurance that you purchase from a private company. It covers certain healthcare costs that are not covered by regular Medicare. Before you enroll in Medigap you need some basic information about choosing a Medigap plan.

Medigap can cover additional costs, such as co-payments, deductibles, and out-of-country health coverage.  When choosing a Medigap plan it’s important to note that there are certain items that are not covered in all Medigap plans. These include long-term care or private-duty nursing, dental care, vision care, hearing aids, eyeglasses, or prescription drugs.

After you enroll in Medigap you will pay a monthly premium.  It’s important to note that choosing a Medigap plan is affected by where you live and what plans are available in your area.

Medigap insurance is available for people who already have Medicare Part A. This is the portion of the insurance that covers hospital services. You’ll also need to have Medicare Part B. Part B is for people who have coverage for doctor services. If you have the Medicare Advantage plan you will not be eligible for a Medigap plan.

If you wish to learn more about how to enroll in a Medigap plan you can head to the online Medicare Personal Plan Finder or call your state’s department of insurance. Within Medigap there are multiple labeled plans. These are labeled from A to N. Each offers different types of coverage. It’s important to note that for Plans E, H, and I, that they are no longer available to new subscribers.

You may discover that premiums can vary between insurance companies, even though the Medigap plan coverage will be the same. It’s important to price around to obtain the best quote. But you can be assured that if you get the Medigap Plan C policy that the benefits will be the same no matter which company you get it from.

It’s also important to buy your Medigap coverage before the age of 65 otherwise you may be turned down for coverage. Ensure you buy your coverage six months before your 65th birthday and you will pay the same price that a person in good health pays. After 65, you may be turned down for coverage, or may have to pay significantly higher even if you’re in good health.

After choosing a Medigap plan you will pay a monthly fee to the insurance company. The cost of your policy will be determined by which labeled plan you bought. It can also be affected by the insurance company your choose to buy it from, your location or state, and your age.

If you have enrolled in Medigap and you pay your premiums on time, the Medigap policy is guaranteed renewable. It will provide you with piece of mind knowing that you can now fully utilize your Medigap insurance plans to your advantage.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!

Making the Right Choice In Medigap

Medigap is an extra medical insurance plan that you purchase from a private company to pay for costs not originally covered by Original Medicare such as deductibles, copayments, and medical care when you travel outside the United States. However, Medigap policies do not cover long term medical care, hearing aids, dental care, eyeglasses, vision care, private duty nursing, and most plans do not also cover prescription drug benefits. If you are a regular user of the healthcare system, it would be ideal to buy a Medigap plan as it would save you costs in the long run.

Be Educated On All Medigap Plans

Before choosing the right Medigap plan, you must be well informed about your choices. 10 Medigap benefits (A, B, C, D, F, G, K, L, M, and N) have been designed by the government with each varying slightly in their coverage. You can make Medigap comparisons using There you would find all the details you need in a single chart. Your choice of Medigap policy should not be affected by the alphabet designations as government regulations ensure there is a standard design for any plan despite the insurer covering it.

Items To Look For In Medigap Coverage

So what are the differences among the Medigap Policies? How do they compare? While some cover more costs, others are high deductible, and still others demand higher cost sharing. To decide on the best Medigap policy for you, you must weigh your options so you can look out for the plan that best fits your needs and one that you can reasonably afford. It would be ideal to focus on a plan that covers more big-ticket items. These items include:

  • Covering the coinsurance of your hospital stays or stays in a specialized nursing facility after a hospital stay
  • 20% of your share of doctor visit costs
  • 20% of your share of costs involved in lab tests
  • The deductible involved any time you are admitted into a hospital.

There are other items covered under the different plans you must consider before making your choice. Medigap Plan F is more popular today as it is considered the most comprehensive plan. However, Plan F has two plans – with one having a high deductible. So it is important to consider each option carefully before making a decision.

Pricing System Of A Medigap Plan

Remember that prescription drug benefits are not covered under Medigap policies. Also worthy of note is the pricing system. There are three pricing systems which determining the cost of a Medigap plan. They include:

Issue-age Rated – This plan is based on the age of the individual when the first plan is bought. The younger the individual is, the lower the initial premium. Any increment in premium charges in future will not be as a result of advancing age.

Community Rated – This pricing system does not consider the age of an individual.

Attained-age Rated – Although this premium is initially based on an individual’s age, it could increase as the person gets older.

Finally, before you sign any agreements with a company and agent selling a Medigap policy, ensure you contact the local insurance department of your state to ensure the company is licensed and they have a clean complaint record. Also note that changing a Medigap policy can be a really daunting task. Consider your options very carefully and ensure it does not only cover your current needs, but even your potential future needs.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!


Advantages Of Using An Independent Medigap Broker

You are on the right track if you understand that with Medigap insurance plans you are required to pay a monthly premium rate for a policy.  These policies help you pay for certain health care costs that are not covered by the Original Medicare Part A and Part B such as health care if you travel overseas, co-payments, and deductibles. You also cannot buy a Medigap insurance plan if you are under the age of 65 or if you already have Medicare Part A and Part B, which essentially cover hospital services and the cost for doctor services.

Why Choose a Medigap Policy

Additionally, Medicare policies do not cover private duty nursing, long-term care in a nursing home, routine dental and vision care, eyeglasses, or hearing aids. If you are planning to purchase a Medigap plan, the open enrollment period is six months from the first day of the month of your 65th birthday. You can buy a Medigap insurance plan from a private insurance company or through an independent agent who represents that company.  While the benefits of a Medigap policy are equally the same regardless of whom you buy it from, there certainly are many advantages of comparing rates between independent Medigap brokers.

Consider the following:

Training and Knowledge About Health Insurance

Independent Medigap brokers are sales agents who are not only conversant with different types of policies their carriers sell to help customers determine which plan best suits their needs, but they are also required to complete a pre-licensing training course, where they learn everything about insurance ethics, different types of insurance policies, as well as how different state’s laws apply to the type of insurance customers want to buy.

One of the main jobs of an insurance agent is to help insurance companies generate new business by contacting potential customers and selling them insurance. Therefore, an independent Medigap broker is able to provide you with some insights on the most reliable insurance companies. It is not uncommon to find one broker representing multiple insurance carriers that vary greatly in cost and coverage. A Medigap broker is well vast in the features of various policies, and he or she can explain in detail about the various plans to help you choose one that suits you best.

Helping You Find The Right Policy For You

Most people find very challenging when shopping for health insurance is understanding all the various Medigap plans. Not only will an independent Medigap broker assist you in deciphering some of the insurance lingoes, but also help you make discerning Medigap comparisons, including how they work, how they benefit you and your family, and how much they cost

Independent Medigap brokers can also help fine-tune your Medicare options that fit with your financial obligations, plans, and lifestyle and will give you access to the quality healthcare you deserve.

Using an independent Medigap insurance broker will save you time you would otherwise spend on Medigap comparisons and research, better yet, it costs you nothing to use a broker, and they can provide you with a 24/7 support.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!


Switching from Medicare Advantage to a Medigap Plan

If you have Medicare Advantage, you know there can be many limitations. There can be many advantages to switching to a Medigap plan. By learning a bit more about this insurance coverage, you’ll better be able to determine if you should make the switch to Medigap.

Comparing Medigap and Medicare Advantage

Medigap is a bit different than Medicare Advantage. You’ll still need your basic plan. Medigap is basically extra help insurance that will cover the extra costs that are not covered by your original Medicare.


Medigap is sold by private insurance companies. The meaning of its name covers what it does, “covering gaps in your regular insurance plan”. Let’s cover some comparisons between the two types of insurances so you have a better understanding if you need Medigap.


Many Americans are facing escalating medical costs and have discovered that Medicare only covers some of them. Medigap covers the costs that aren’t covered by your other plan. Just some of the costs that Medigap covers include co-payments, deductibles, and healthcare coverage outside the USA.

What Medigap Doesn’t Cover

What doesn’t the Medigap insurance plan cover? They don’t cover long-term care, so that will need to be covered by your regular insurance provider, which is Medicare, in this instance.  Medigap also doesn’t cover dental care or vision care, or the related costs, such as eyeglasses, nor hearing aids. You also won’t get private duty nursing. Almost none of the Medigap insurance plans cover prescription drugs.


In order to sign up for Medigap, you will pay a monthly premium for one of the Medigap insurance plans.  Policies are only available to people who already have Medicare Part A or related type, which covers hospital services. Other plans may cover people who have Medicare Part B or similar. This covers doctor services.

Choose One Plan- Not Both

For people who have a Medicare Advantage Plan, they will not qualify for a Medigap plan at all. This means that you are going to have to decide which plan is right for you. In fact, it can be illegal for an insurance company to sell you both plans together.


Medigap will generally run at a higher monthly premium, but overall, your out-of-pocket expenses will be decreased, particularly if you have a disease or condition that requires extra clinic visits.  Medicare Advantage plan can be more affordable.  It can also cover more services. If you’re on a tight budget, this may be the plan for you, particularly if you’re pretty healthy.


You should also know that while regular Medicare and Medigap allow you to visit any facility that accepts these providers, with Medicare Advantage, you are limited to specific doctors or facilities within the plan. This type of plan doesn’t cover out-of-network care at all. This may be an issue if you live in the suburbs and aren’t near participating providers.


If you need assistance in deciding if you should switch from Medicare Advantage to Medigap, or with choosing the right Medigap plan to complement your Medicare, please contact us today.


Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!


Which Medigap Supplemental Insurance Plan Works Best For You

Are you 65 or about to turn 65 years of age, but are unsure of which health plan works best for you? If you already have a comprehensive retiree health plan that provides additional and generous benefits, or benefits not covered by Medicare or Medigap policies, you may not need a Medigap plan. However, it is advisable to review your health insurance plan annually and evaluate whether it’s right for you based upon cost, convenience, and coverage. It is time to reconsider your current health plan if you are paying too much for benefits you don’t necessarily need or your health is worsening and you need more benefits.

Depending on the type of health insurance plan you are looking for, your risk factors and how much insurance you want, or what you want to be insured for, a supplemental health insurance plan can be purchased to cover additional expenses that are not covered by the basic health insurance plan such as co-pays, deductibles, and co-insurance.

Eligibility For Medigap

Supplemental health insurance policies such as Medigap supplemental insurance offer disease-specific insurance. While there are possible exceptions, but, if you are on Medicare, Medicare Advantage Part C health plan, have a disability or pre-existing medical condition and are under 65, you aren’t eligible to enroll in a Medigap plan. Available, contingent on the state you reside in, are eleven Medigap policy plans from A through G and K through N that offer different groups of benefits, filling different gaps in Medicare Parts A and B coverage.

It is a general rule that by law, insurers can’t sell you more than one Medigap supplemental health insurance plan. If married, your husband or wife will need to purchase a separate policy if they too need a Medigap coverage, but only if they have Original Medicare Part A and B. Generally, Medigap supplemental insurance plans do not cover any out-of-pocket costs for Part D plans, long-term care, private-duty nursing, dental care, vision care, eyeglasses, or hearing aids.

Standard Medigap policy will cover are some or all the costs of the following:

  • About 20% of what Medicare doesn’t cover, such as your Part A hospital deductible and coinsurance
  • Part A lifetime reserve coinsurance for 91 to 150 days
  • A portion of Part B services such as your doctor’s bills
  • Part B deductible
  • Part B 20% coinsurance
  • Part A and B first three pints of blood annually
  • Hospice care and coinsurance
  • Foreign travel emergency coverage
  • Up to 365 lifetime hospital days beyond Medicare coverage

Rights You Have With Medigap

A few changes have also been made to Medigap rules that require companies to issue a Medigap policy without both a health screening and a new waiting period limitation. For example;

  • You now have the right to purchase a Medigap policy without health screenings or a new waiting period if you no longer have insurance that covers all of the cost of Medicare’s 20% co-insurance
  • Insurance companies cannot request, require or obtain medical information as part of the application process if you are applying under “open enrollment” rights or if you are entitled to “guaranteed issue” coverage
  • “Open enrollment” rights are now extended to include COBRA and CalCOBRA

Regardless of the changes to the law, those who bought their Medigap plans before June 1, 2010, can rest assured that their plan is not only guaranteed renewable every year, but their benefits will remain the same as long as you want to keep it and the premiums are paid.

Bearing in mind that insurance companies are required to offer the same benefits for each lettered plan, but it is your prerogative to shop around and find a Medicare Supplement plan that may fit your medical and financial needs. In essence, insurers have the ability to charge higher premiums for this coverage, they are, after all, trying to make a living too. The following are what they base their costs when they price their plan premiums:

How Premiums Are Priced

Community-rated pricing – also known as No-Age-Rated pricing, the age of the beneficiary does not affect the premium price, but it may still go up due to factors, such as inflation, high deductibles, discounts, and whether you have a guaranteed issue right. Therefore, regardless of your age and overall health condition, the charges are the same premium to all beneficiaries

Attained-age-rated –  they are the most common as they represent the largest group of insured policyholders and the monthly premium rate for this policy is based on your current age at policy start. While they increase gradually over time, they are reasonable increments that must first be approved by the Department of Insurance as a way to keep up with inflation.

Issue-Age-Rated – premiums are priced based on the age at which you bought the policy. Depending on your state of origin, these policies will every so often have much higher premiums to start out and are subject to annual rate increments.

It is, therefore, important to do a little research pertaining to how your state rates this policy and also check an insurer’s rate increase propensities over the years before you purchase an issue-age policy or any other policy for that matter.

Medigap plans cover a range of benefits, with some providing more coverage than others. And while Medigap Supplemental insurance plans are standardized in most states, understanding how they are priced will ensure that you are not paying double for the same basic benefits. You may also be subject to medical underwriting that most insurance companies use to collect detailed information about your health and medical history when evaluating your application. It is during this evaluation process that an insurance company will decide whether or not to accept your application for insurance and how much to charge you. They, however, can’t use your health problems to deny you a policy or charge you more for it during your Medicare Supplement Open Enrollment Period. Therefore, be extra vigilant not to miss your Open Enrollment Period to avoid medical underwriting and extra costs.

Learn more about Medigap plans and rates at  Medigap Insurance brokers will help you compare Medigap Insurance rates and plans.  To talk to an expert in Medigap coverage call toll free 888-452-7949!