Medicare
Supplement Plan

In this guide

  1. What is Medicare Supplement Insurance?

  2. Medicare Supplement Insurance coverage

  3. Why is Medicare Supplement Insurance important?

  4. Get a quote

What is Medicare Supplement Insurance?

Medicare is a federal health insurance program aimed at retirement-age Americans. It helps make health coverage more affordable and less costly than private health insurance. Many people even get part of it premium-free. However, Medicare beneficiaries still have to pay for some health care costs — like deductibles and coinsurance — on their own. Medicare Supplement Insurance, also known as a Medigap plan, can help cover these expenses.

Medicare Supplement Insurance plans help people enrolled in Original Medicare pay out-of-pocket health insurance expenses, like copays, coinsurance, and deductibles. Original Medicare is comprised of Medicare Part A and Medicare Part B.

Part A is insurance for hospital care, and Part B covers doctor and outpatient insurance. If you are enrolled in Medicare Part C, a private alternative to Original Medicare, you cannot get a Medicare Supplement policy.

Your specific coverage varies depending on what Medicare supplement plan you buy. There are ten standardized Medigap plans, identified in most states by letters: A, B, C, D, F, G, K, L, M, and N. (Massachusetts, Minnesota, and Wisconsin standardize their Medicare Supplement plans differently.)

Medicare Supplement Insurance Coverage

They help people pay for their share of the costs for health care services covered by Medicare. Those costs include:

A set amount is called a deductible you pay before Medicare starts paying. Medicare has two deductibles:

one for Part A, which covers hospital services, and

one for Part B, which covers medical services.

Hospital expenses are applied after you meet your Part A deductible. Medicare pays your expenses for the first 60 days you’re in the hospital.

A portion of the cost of most services after you meet your Part B deductible. Medicare pays 80 percent of your costs. You pay the other 20 percent.

Why is Medicare Supplement Insurance important?

With most Medicare supplement plans, you can go to any doctor or hospital that accepts Medicare. You’ll give them your Medicare card and your supplement plan ID card.

Original Medicare will pay its share. Your supplement plan will pay your share of the costs, depending on what the plan covers. It may also coordinate payment with Medicare and your health care providers. That means you won’t have to bother with claim filing or paperwork.

Medicare and the options around it can get confusing. So connect with us today if you have any questions about Medicare and Medicare Supplement Insurance.

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