Medigap Insurance

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Since Medicare does not cover all health care expenses, Medigap insurance is sold as supplemental health insurance for Medicare recipients.

Unlike Medicare, Medigap is not a federal program. Although health insurance companies provide Medigap coverage, they are strictly regulated by both the federal and state government.

Medicaid beneficiaries do not need Medigap coverage since Medicaid will cover their health care expenses. There are also benefits available to individuals within 120% of the poverty line that will pay the premiums for Part B coverage.

See the section on Medicare for additional information on Medicare Part A and B.

The majority of Medicare recipients in choose to buy Medigap insurance. The US has standardized all Medigap insurance plans. There are currently 10 Medigap plans available.

Required Benefits Under Any Medigap Policy

• 65 hospital days beyond Medicare coverage (lifetime allowance)
• Part A Hospital Coinsurance (provides for days 61-90)
• Part A Hospital Lifetime Reserve Coinsurance (provides for days 91-150)
• Parts A and B three pint blood deductible
• Part B 20% Coinsurance

Additional Requirements for Medigap Insurance

In the first 6 months that someone qualifies for Medicare, they must be accepted to any Medigap policy being offered at that time.

People with disabilities may find that Medigap insurance companies offer separate plans for them.

You are allowed to change your mind, cancel the policy, and get a full refund up to 30 days after you buy Medigap insurance.

What is MedicareAdvantage?

MedicareAdvantage packages the standard Medicare benefits with a private managed care health insurance plan for seniors that provides some supplemental coverage. The benefits may include senior prescription coverage.

What is MedicareSelect?

MedicareSelect is a Medigap plan that is similar to a PPO plan.

Get Medigap Insurance Quotes Now By Filling Out The Quick Form At The Top Of The Page.

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