A Medicare Supplement plan, also called Medigap insurance, may be able to help you pay for the “gap” between what Original Medicare pays and out of pocket costs.
You can apply for Medicare Supplement plans through private insurance companies. If you only have Original Medicare (Parts A and B), you could have hundreds to thousands of dollars in out-of-pocket costs. Buying a Medicare Supplement plan to work with your Medicare coverage can provide peace of mind by helping with some of these costs.
Medicare Supplement plans, also known as “Medigap”, are standardized plans. Each plan has a letter assigned to it, and offers the same basic benefits, and the basic benefit structure for each plan is the same; no matter which insurance company is selling it to you. Note: The letters assigned to Medicare Supplement plans are not the same things as the parts of Medicare. For example, Medicare Supplement Plan A is not the same as Medicare Part A (hospital insurance).
Medicare Supplement plans don’t replace Original Medicare. As an alternative to paying out of pocket-the Medicare Supplement plans work alongside your Original Medicare coverage to help cover some of the costs that you would normally have to pay for on your own.
- Low or no out-of-pocket copay, coinsurance or deductible plan options available.
- Plan features stay the same from year to year, and your coverage will never change, even if your health does.
- Prescription drug (Part D) plans work with Medicare Supplement plans to provide you with more complete coverage.
- Choose any doctor or hospital that accepts Medicare patients—no referrals needed.
- A Medicare Supplement plan goes with you when you travel anywhere in the U.S.
Some Medicare supplement plans offer additional benefits besides the basic benefits. These benefits could include:
- Part A deductible
- Skilled nursing facility care
- Part B excess charges, if a provider charges more than the Medicare-approved Part B charge*
- Foreign travel emergency care
Benefits and costs vary depending on the Medicare Supplement plan you choose.
