Medigap is additional health care insurance provided by private insurance companies to cover the gaps in the Original Medicare Plan. Medigap policies are regulated by Federal and State laws in order to protect you as a beneficiary. Medigap policies have to be clearly labeled as Medigap and are standardized. Medigap was designed to help pay the costs that Medicare does not cover. Medigap is also known as Medicare Supplemental Insurance Plans.
Do you need Medigap coverage if healthy? The answer is yes because Medigap is an extra health insurance plan to keep or make you feel safe as it covers costs not covered by Original Medicare such as co-payments, deductibles, and health care if you travel outside the U.S. This coverage is very ideal for health issues outside the country.
With most Medigap plans you can go to any doctor or hospital that accepts Medicare. You will give them your Medicare card and your supplemental plan ID card. Original Medicare will pay its share. Your Medigap plan will pay your share of the costs depending on what the plan covers that you have chosen. It may also coordinate payment with Medicare and your health care providers. That means you will not have to bother with claim filing or paperwork.
Medigap insurance is available to help you cover those expenses that either fall through the cracks of Medicare or aren’t fully covered under the government plan. Medicare was never intended to be a full coverage plan but rather to cover those retirees who could not afford full health insurance. It best you get it even when you are health that when you are ill. Don’t wait until you have a major medical emergency!
Now you can find Medigap right from the convenience of your computer. It is recommended that you enroll in this type of insurance soon after reaching retirement age so don’t dely. Every year will bring an increase in premiums if you delay signing up. There is no excuse not to get coverage when you can enroll in this vital insurance program without even leaving your home.
How It Works
Generally, before you can Medigap plan, you have to be at least 65 and enrolled in Original Medicare Part A and Medicare Part B. You apply for a Medigap plan offered by a health insurance company. These plans only cover one person, so if you and your spouse both want Medigap coverage, you will each need a plan. It does not have to be the same plan.
Before you get Medigap coverage you should be familiar with what it is. Remember, Medigap is structured in a way that all the plans of the same name offer the same coverage regardless of the company that offers it. Therefore, your challenge boils down to being familiar with what each of the coverage benefits are so that you know exactly what to expect from the available options. This will help you determine which is best for you.
Medigap Eligibility Requirements
Medigap coverage works only in conjunction with Medicare Part A and Part B. Acceptance of your Medigap application is guaranteed if you are 65 or older and apply within six months of your initial enrollment in Part N of Medicare. Pre-existing conditions are usually waived during this period of time as well.
Here are the most common Medigap coverage benefits and what each does for your medical needs.
Medicare Part A Coinsurance
- Available in all Medigap Plans A through N
- Requires participants to pay for a share of the costs of the services needed
- Applicable after your deductible has been covered
Example: Suppose you have a Medicare Part A service and your coinsurance states that you pay for 20% of the fee for that service; in terms, this means that your Medigap coverage takes care of the remaining 80% of the bill.
Medicare Part B Coinsurance
- Available in all Medigap Plans A through N with limitations specific to Plans K and L
- Similar to coinsurance for Medicare Part A except that it pertains only to service that fall under the Medicare Part B classification
- Using medical services that falls under Medicare Part B you pay the coinsurance rates as specified in your plan while your Medigap coverage shoulders the remaining charge of the bill
Blood Coverage
- This coverage comes with all Medigap Plans from A to N with special limits to Plans K and L
- All Medigap offers blood transfusions of up to 3 pints
- Patients must pay for any additional blood that is needed after they use their 3 pints
Medicare Part A Hospice Care Coinsurance
- This coverage comes with all Medigap Plans from A to N
- Similar to Part A and Part B coinsurance except it is specific to hospice care
- If hospice eligible your insurer pays for the charges remaining after you paid your share
Skilled Nursing Facilities
- Certain limited care that is provided at skilled nursing facilities
- Most cover 50 to 100% of the coinsurance for hospice care
- Medicare Part A and Medicare Part B do not include this benefit on their own
Foreign Travel
- Medicare provides coverage only in the U.S. and its terriorties
- Medigap plans are purchased to cover foreign travel emergencies as limited on their plans
- If you are traveling outside of the U.S. often consider Medigap Plan C, D, F, G, M, or
Learn more about Medigap plans and rates at http://emedigap-plans.com. 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 today!