You’ve got Medicare, but what about the gaps it does not cover? Surprise bills, deductibles, and copayments can sneak up fast. This is where Medicare Supplement insurance can step in to help.
What is a Medicare Supplement Plan?
A Medicare Supplement Plan, also known as Medigap, helps cover the costs that Original Medicare (Part A and B) does not pay for. This can include coinsurance, copayments, and deductibles. These plans are offered by insurance companies and are used to supplement your Original Medicare coverage.
Who Can Get a Medigap Policy?
To be eligible for a Medigap policy, you must be enrolled in Medicare Part A and B, be 65 or older, and apply during your Medigap open enrollment period, which starts the month you turn 65 and enroll in Part B. This six-month window is your best chance to get a Medigap plan without medical underwriting. This means you cannot be denied or charged more due to pre-existing conditions.
Common Medicare Supplement Plans
Medigap plans are standardized and labeled by letters (A-N). These plans offer a different combination of benefits. Some of the most common plans are:
- Plan G: This is a popular choice because it is great for predictable costs and broad coverage. It covers everything except the Part B deductible.
- Plan N: This is a budget-friendly option with lower premiums. You pay small copays for some doctor and ER visits.
- Plan F: This covers all Medicare gaps, but it is only available for those who were eligible for Medicare before January 1st, 2020.
Why is a Medicare Supplement Plan Important?
Medicare Supplement Plans offer peace of mind and flexibility. You can visit any doctor nationwide that accepts Medicare without worrying about networks and referrals. It allows you to budget ahead and avoid uncovered expenses that can become a costly burden.
Let’s Talk
Explore your options today and get the coverage that fills in the blanks. For a free consultation, contact one of our experienced Avery Hall agents at 410-742-5111 for Salisbury, 410-822-7300 for Easton, and 302-536-9470 for our Selbyville office.