Medicare Supplement Plan, also known as a Medigap policy, enables you to enjoy the
highest level of care without having to worry about excessive out-of-pocket medical
expenses. That’s because Medicare Supplement Plan insurance helps cover the “gaps”
between the coverage you currently receive through Medicare and the total cost of
your medical expenses.
Best of all, the process of buying Medicare Supplement Plan insurance is actually
pretty straightforward (more on that in a minute).
The Medicare Supplement Plan industry is regulated by federal and state law, ensuring
your protection as well as a standardized set of Medicare Supplement Plan insurance
plans that deliver the exact same benefits across the board, even though every company
may not provide all plans.
Medigap plans must be labeled as “Medicare supplement insurance” and designated by
the letters A through N. It’s important to note that plans E, H, I and J are no longer
for sale. However, if you are currently on one of those plans, you are allowed to
continue with it.
Medicare Supplement Plan insurance requires you to be enrolled in both Part A and
Part B of Medicare before purchasing a Medigap policy. It’s designed to work hand-in-hand
with Medicare to alleviate some of the costs associated with your medical expenses.
As a result, Medicare Supplement Plan coverage is designed for use only with Medicare
and is not compatible with other health insurance plans. It is important to understand
and learn first the nature of Medicare Supplement Plan before acquiring one for your