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Learn why a Medigap Plan is right for you
Medicare Supplement plans, also known as Medigap, are policies that help pay for the excess charges left over by Medicare.
These costs are things like your deductibles and coinsurance.
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Which Medigap policy has the highest coverage?
Medicare Supplemental Plan F has the highest level of coverage. It pays for all of your cost-sharing on covered services so you have no out-of-pocket expenses.
Medicare Supplemental Plan G is the second-best in terms of coverage. The only thing not covered is that you still pay the Part B deductible once per year. This keeps your Medigap premium lower and, in turn, may save some beneficiaries some money in the long run.
When can I enroll in Medigap insurance?
Once you have Medicare Part B, you have six months to enroll in a Medicare Supplement plan with no health questions. This is a one-time open enrollment in which you cannot be turned down for any health conditions, you cannot be asked any medical questions, and you cannot be charged an additional premium for health reasons.
However, once this one-time enrollment is over, insurance companies can begin to refuse you based on health.
This is why open enrollment is an important time to remember.