Is Medigap Right For Me?

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Medicare Supplement plans (Medigap) are plans you can buy as an addition to Original Medicare (they are not an alternative option, like Medicare Advantage). Medigap is sold by private companies and can save you money by filing the coverage gaps in Medicare Part A and Medicare Part B. 

There are many different Medigap plans to choose from, but they all help pay for health care costs like copayments, coinsurance, and deductibles. Every Medigap plan covers:

  • Medicare Part A coinsurance payments
  • Medicare Part B copayment or coinsurance
  • The first three pints of blood used in a medical procedure
  • Part A hospice care coinsurance expense or copayment

Some, but not all Medigap plans cover some or all of the following: 

  • Skilled nursing facility care coinsurance
  • Medicare Part A deductible
  • Medicare Part B deductible
  • Medicare Part B excess charge
  • Foreign travel exchange (up to plan limits)   

Depending on where you live, the following policies may be available: Medigap Plan A, B, C, D, F, G, K, L, M, and N. Medigap Plans A and B are lower cost, less comprehensive options. Medigap Plans C, D, F, G, and N are more expensive, more comprehensive options. Medigap Plans K, L, and M all use some form of cost-sharing (making their up-front monthly premiums lower).

Do note that the prices for Medigap monthly premiums vary according to the region you live in, the insurance company providing the plan, the coverage provided by the plan, your age, and sometimes your health conditions.

Who Should Enroll In Medigap?

Medigap plans are a great option for people with Original Medicare who want to protect themselves from the gaps in Medicare Part A and Medicare Part B. Original Medicare has no limit on out-of-pocket costs, so Medigap can save you money and offer you protection should you need it. 

Each Medigap plan has different benefits, and it’s important to choose the plan that best suits your needs. For example, suppose you’re looking for basic coverage at a relatively low rate. In that case, Medigap Plan A could be a good option for you. Suppose you’re looking for comprehensive coverage and are fine with paying a higher monthly premium. In that case, Medigap Plan G could work for you. 

If you want a comprehensive plan that covers the Part B deductible, then Plans C or F could be options to consider as they are the only plans that offer this coverage. However, unless you were eligible for Medicare before January 1, 2020, you will not be able to enroll in these plans.

We Can Help You Decide

Your health coverage is important. Let us help you make the big decisions, so you avoid expensive mistakes and get the Medicare Supplement coverage you need to stay safe and healthy. Get Medicare help today from the Medicare experts.

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Justin Brock

President & CEO of Bobby Brock Insurance