Medicare supplement (Medigap) plans are offered by private insurance companies. These plans will help cover the health care costs that Medicare doesn't
cover, like deductibles, co-pays and co-insurance.
If you have Original Medicare and you buy a Medicare Supplement, Medicare will pay its share of the Medicare-approved amount for covered health care
costs. Your Medicare Supplement will then pay its share of the costs.
What you need to know about Medigap policies:
- You must have Medicare Part A and Part B and continue to pay your Part B premium.
- If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but you must have an election period to disenroll for the Medicare Advantage
Plan before your Medicare Supplement coverage begins.
- You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to
- You can buy a Medigap policy from any insurance company that is licensed in your state to sell one.
- Medicare Supplement Plans do not include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Part D
For more information,