Medicare supplement insurance plans, also known as Medigaps, are offered by private
insurance companies to cover gaps in recent Medicare plans. Standardized Medigaps
policies, plans A through N, must follow Federal and station laws intended to protect
consumers. All Medigaps must allow the same fundamental benefits, regardless of which
company offers them.
Medicare part A is hospital insurance, which covers inpatient hospital stays and
care in hospice, home health care, and nursing facilities. Medicare part B is medical
insurance. It covers services from doctors, outpatient services, and preventative
Medicare allotment C, also known as a Medicare Advantage Plan, includes part A and
B, and sometimes prescription drugs. The fourth, Medicare part D, is prescription
drug coverage, and may cover the costs for prescription drugs.
If you have original Medicare, you can acquire Medigaps policy to cover co-payments,
coinsurance, and deductibles. Medigaps supplement your coverage by paying its part
with your Medicare extra costs.
There are some stuff that Medigaps policies do not cover. Medigaps do not cover:
• Vision and dental care
• Long-term nursing facilities
• Private nursing services.
Effective June 1, 2010, distinctive laws have changed Medigaps coverage. Now, new
Medigaps Plan M and N are being offered. However, Plans E, H, I and J will no longer
be offered to new policy holders.