Answers to Some Frequently Asked Questions About Medigap Coverage

The Medicare insurance system was designed to offer affordable health insurance to those who are over the age of 65 or are younger but suffer from qualifying disabilities. This insurance covers the majority of inpatient and outpatient medical services along with necessary medical equipment and pharmaceutical drugs. It doesn’t cover everything, though, and many new Medicare policyholders need some help determining exactly how much supplemental coverage they’ll require.

The need for help figuring out options is understandable given how many different supplement plans there are available. Read on to find some answers to policyholders’ most frequently asked questions regarding supplemental coverage.

What is Medicare Supplement Insurance?

Often referred to as Medigap insurance, Medicare supplement insurance policies are plans offered by private insurance companies that help pay for expenses that aren’t covered under Medicare. They are designed to protect patients from potentially high hospital bills and excess charges for medical care. Ten different plans are available, so it’s possible for policyholders to choose one that perfectly suits their unique needs.

Who is Eligible for Medigap Insurance?

The answer to this question is simple. Any patient who is covered under Medicare parts A and B can apply for Medicap coverage.

Does Everyone Need Medigap Coverage?

The majority of Medicare policyholders can benefit from Medigap coverage plans, but they aren’t always absolutely necessary. Those who have taken out Medicare Advantage plans, Medicaid, or employer group health insurance may not need the extra coverage offered by Medigap plans.

What Do These Plans Cover?

Each Medigap plan provides some degree of coverage within nine different benefit areas. These include parts A and B coinsurance, copayments, and hospital costs, part A hospice care or skilled nursing care copayments and coinsurance, and parts A and B deductibles and excess charges. Some plans also cover up to three pints of blood in the event that a transfusion is required and others provide travel emergency coverage.

What’s the Best Way to Choose a Plan?

It’s important that patients understand all of the options available to them, which can be a challenge given how many different supplement plans there are. The best place to start is to check out this link for a comprehensive guide of Medigap plans and what they cover.

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