MEDICARE SUPPLEMENT PLANS

Medicare Supplement Plans, also known as Medigap policies, are private insurance plans that help cover costs not paid by Original Medicare, such as copayments, coinsurance, and deductibles. These plans work alongside your Medicare Part A and Part B coverage, giving you more predictable healthcare expenses and fewer out-of-pocket costs.

Medicare Supplement Plans provide comprehensive coverage for expenses like Medicare Part A hospital coinsurance, Part B coinsurance, and skilled nursing facility care costs. They offer peace of mind by reducing unexpected medical bills, providing nationwide coverage, and allowing you to see any doctor or specialist who accepts Medicare.

It is not possible to enroll in both a Medicare Advantage Plan and a Medicare Supplement Plan at the same time. Medicare Supplement Plans are designed to work only with Original Medicare (Part A and Part B). To enroll in a Medigap policy, you must first switch from your Medicare Advantage Plan back to Original Medicare.

Your Medigap Open Enrollment Period, starting the month you turn 65 and have Medicare Part B, is the ideal time to sign up for a Medicare Supplement Plan. During this period, you have guaranteed issue rights, meaning you can purchase any Medigap plan without being denied coverage or charged higher premiums due to pre-existing conditions.

The roles of Medicare Supplement Plans and Medicare Advantage Plans are distinct. Medigap plans work with Original Medicare to cover out-of-pocket costs, while Medicare Advantage Plans replace Original Medicare and often include additional benefits like prescription drug coverage, vision, and dental. With a Medicare Supplement Plan, you maintain Original Medicare benefits and have access to any provider nationwide that accepts Medicare.