5 Things About Medigap Insurance Policies Consumers Need to Know


Medicare Insurance is recommended for people who are 65 or over. With the original Medicare Plan, which includes Parts A and B, you have a majority of hospital and medical costs covered. However, Medicare doesn’t provide full coverage and you will need to fill the gaps with Medigap to avoid large out-of-pocket costs.

There are a large number of plans within Medigap and each one targets a specific group of people. In this article, we will not describe each plan, but rather offer some of the insurance policies consumers need to know.

What is Medigap/Medical Supplement Insurance?


Medical Supplement Insurance is designed with the idea to provide additional services to Medicare enrollees and lower the out-of-pocket costs. With one of the Medigap plans, beneficiaries can receive help when paying some of the health care costs such as copayments, coinsurance or deductibles.

Some Medigap policies can help people who travel a lot internationally as they include medical care for outside the USA. In case you have original Medicare and you buy any Medigap policy, Medicare will pay its share of the Medicare-Approved Amount for covered health care costs. Then, your Medigap insurance company pays its share.

Now that you know what Medigap is and what it is used for, here are 5 things you need to know about this insurance policy.

Medicap Covers Increased Costs Associated with Aging

“Medigap policies are going to provide more protection and less out-of-pocket expense as clients get older and less healthy,” Katherine Adams, founder of the Creative Legacy Group insurance company states.

The way it works is that you have to find an insurance provider for Medigap. Therefore, you are paying a private insurance company a monthly premium to cover the gaps in the original coverage.

“I always recommend that, if a client can afford the monthly payments, to get a Medigap because as their health declines, they will be subject to less out-of-pocket expenses,” Adams says.

Medical insurance can be expensive and people are looking for different ways to save money. Occasionally, they will turn to shady Medicare providers who offer insurance at low costs. These are usually scams and something to think about when you are looking for a Medigap provider.

International Healthcare Expenses


We’ve already mentioned that Medigap covers your healthcare expenses while you are outside of the USA. This can be quite useful, especially for people who travel outside of the country a couple of times per year. Medigap Plans C, D, E, F, G, H, I, J M and N have this included in their portfolio.

During your first 60 days outside of your country, you will have the medical expenses covered with one of these plans. In case you need emergency care during your trip, about 80 percent of your bill costs will be taken care of, after you’ve met your $250 yearly deductible.

You can only get Medigap Individually

Medigap plans can be purchased only for individuals. They offer coverage for one person at the time. For example, you and your spouse may both need a Medigap plan, but you cannot get any kind of a group discount just because you are married.

There are potential discounts with certain providers, but never for multiple people. After all, both you and your spouse have different needs and probably require a different Medigap plan, so it is better for each of you to find the one that suits the individual, even if it is from a different provider.

Standardized plans

Not all plans may be available for you. Usually, the Medigap plans insurance companies provide depends on the location. It means that different states may have different plans on offer. However, all 10 Medigap plans are standardized.

“This means that, in most cases, a Plan letter offers the same benefits, covers the same doctors, and pays claims the same—regardless of the company,” Travis Price, Medicare and Final Expense Insurance Agent confirms.

“In other words, a Plan G is a Plan G, regardless of if you use a brand name company or Bob’s Backyard Medicare Supplement company. Price is the primary difference between Medicare Supplement plans,” Price adds.

Medigap Doesn’t Fill in All Gaps


Even though Medigap is made with the intention to cover the gaps of the Part A and Part B medical insurance, no matter which Medigap plan you select, there will always be some out-of-pocket costs. Medigap plans will not cover things such as long-term care, vision care, dental care, hearing aids, eyeglasses and private nursing.

For these things, you will need to find your own private institution that provides such services. Still, Medigap plans do cover significant parts of your healthcare and it is worth having one.

Find your Medicare Provider

What you need to do is go through the 10 standardized plans and compare the prices and coverage. After that, you should look for a provider near you and see what they can offer you. Finding multiple providers and comparing their offers is crucial in selecting the best option.

Thanks to technology, there are a large number of online Medigap providers that can quickly come up with a price estimate and an offer. Your Medigap plan is a few clicks away!

You can always learn more about Medigap Insurance Policies & Plans and more on MedicareConsumer.com. Making sure that you are receiving correct information and prices is the first step in finding the right Medigap plan for you.