What is a Medicare Supplement?

A Medicare Supplement, also known as Medigap, is a type of insurance policy designed to help cover some of the healthcare costs that are not covered by Original Medicare. 

Original Medicare consists of two parts: Part A (hospital insurance) and Part B (medical insurance). While these parts cover many healthcare services, they do not cover everything. For example, they do not cover deductibles, copayments, coinsurance, and certain other costs.

This is where Medicare Supplement plans come in. These plans are sold by private insurance companies and are designed to help cover some of the out-of-pocket costs that come with Original Medicare. Medicare Supplement plans are standardized, meaning that each plan offers the same basic benefits, regardless of which insurance company sells it. These plans are guaranteed renewable, which means the insurance company can’t cancel your Medigap policy as long as you pay the premium. However, each plan may have different premiums and other features, so it's important to shop around and compare plans before choosing one. 

Medicare Supplement Insurance (Medigap) plans are not HMO or PPO plans. Medicare Supplement Insurance plans are secondary to Medicare, which is your primary coverage and pays your claims first typically. The Medicare Supplement Insurance plan can also pick up your deductibles and coinsurance that Medicare doesn’t pay. Unlike the Medicare Advantage plans, which can change from year to year and can even go away. These plans do not cover the medication you pick up at the pharmacy, so you may need to add a Part D drug plan also.

how it works

Determine if you need more coverage than offered by Original Medicare offers.

step 3

Check your eligibility.

steps to enroll

Work with an independent agent to learn what plans are best for you & offered in your area.

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Apply for Original Medicare Part A and Part B with your local Social Security office.

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