Medicare Supplement

MEDICARE SUPPLEMENT

What is Medicare Supplement Insurance?

Medicare supplement plans, also referred to as Medigap,are insurance policies that help to pay for the “gap” in coverage from Medicare A & B. These policies are sold by private insurance companies that are licensed to sell Medicare plans and will help cover deductibles, copays and coinsurance that Medicare does not cover. You may even find plans that offer limited coverage overseas.

What are my options?

Medicare Supplement Plans are labeled by letters A through N and while each plan features different benefits, each plan is required by law to have the same standardized benefits no matter which company you choose.

What's right for me?

There is no one size fits all when it comes to any Medicare insurance and while some plans are more popular than others, it depends if you prefer paying more for minimal out of pocket costs or if you prefer lower premiums with a bit more risk. Plus, not all plans are available to everyone anymore so your eligibility plays a role in this decision as well.

When can I enroll in a Medicare Supplement?

While you can enroll in a Medigap plan any time of year, timing is everything. Once your Medicare Part B begins, you have a 6-month window to enroll into ANY Medigap plan without answering any health questions. This is called your Medicare Supplement open enrollment period and it is one of the only times you can enroll in a Medigap plan without answering health questions or having your health history impact your acceptance or your monthly premium rate. Once those 6 months are up, you will go through medical underwriting and you can be denied coverage.