Medicare Supplement Insurance Program – Medigap

Medigap or Medicare Supplement Insurance is a health insurance plan formulated to supplement Original Medicare. Medigap is provided by private health insurance companies but operated by Medicare. Medigap helps pay for part of the healthcare costs that Original Medicare does not cover (“gaps” such as co-insurances, co-payments, and deductibles) and certain benefits Medicare does not cover. If you possess both Medigap policy and an original Medicare, Medicare will pay its share of the approved Medicare amounts for the covered medical expenses, followed by the payment of your Medigap policy.

Each Medigap policy must comply with both federal and state laws. Medigap policies are standardized and labeled with the letters A-L. Each policy must provide the same basic benefits, regardless of which health insurance carrier sells them. The only difference is the price offered by each carrier.

Policy A provides the basic and core benefits, while the other eleven policies provide the basic benefits and some additional benefits. Plan A offers the following benefits:

  • Part A Hospital Lifetime Reserve Co-insurance for days 91-150
  • Part A Hospital Co-insurance for days 61-90
  • 365 lifelong hospital days under Medicare coverage
  • Part A and Part B 3 pint of blood derivable
  • Part B 20% coinsurance

The remaining guidelines (B through L) provide another combination of the following benefits:

  • Part A hospital deductible
  • Part A Nursing Insurance Co-insurance for days 21-100
  • Foreign Travel Emergency Insurance
  • Part B deductible
  • Preventive medical care
  • At home recreation

You must have Medicare Part A and Medicare Part B if you purchase a Medigap policy. You must pay a premium for Medicare Part B and your Medigap policy.

However, it should be noted that many benefits not covered by a Medigap, include:

  • Hearing Aids
  • Nursing care
  • Prescription drug costs exceeding $ 3,000 per year
  • vision care
  • Specialist care after 100 days
  • dental care

Please note that plans E, H, I and J are no longer sold (as of 2012). But if you already have one, you may continue to receive benefits.

Medicare has several gaps and does not pay for all the health services you need. If you are in the original Medicare Plan, you can purchase Medicare Supplementary Insurance, also called Medigap Insurance. This is a health insurance that helps to pay some of your costs in the original Medicare program and for some care that it does not cover.

The Medigap insurance plans are sold by private insurance firms. According to law, standard Medigap insurance plans are what is offered by insurance firms. There are 11 standard plans called A-N. The plans offer a unique bundle of benefits, filling different “gaps” in Medicare coverage and varying in price.

You should study all Medigap policies before pitching your tent on the best plan for you. Regardless of which insurer offers a specific plan, each plan that has the same letter covers the same benefits. For example, all Plan C policies have the same benefits, regardless of which company sells the plan. The premiums may vary, however.

Each 11 standard Medigap policies provide coverage for basic benefits, however each has extra benefits that vary depending on each plan.

There is none of the standard Medigap plans that include ones here for 2020

  • Long-term care so you can take a bath, get dressed, eat or use the bathroom
  • dental or vision care
  • hearing aids
  • glasses
  • nursing care
  • prescription drugs