Medicare can provide you with the health insurance coverage you need, but it does not cover everything. Medigap is Medicare Supplement Insurance that fulfills these gaps in your health care, including copayments, coinsurance and deductibles. Supplemental insurance can help reduce your out-of-pocket costs. Our agents at E-Shop Medicare specialize in helping you with your Medicare coverage, no matter the question.
What Does Medigap Cover?
A Medigap plan covers costs typically out-of-pocket and not covered by other elements of your Medicare coverage. The following are costs covered by Medigap:
- Deductible: This is an annual amount that a person must spend out of pocket within a certain time period before an insurer starts to fund their treatments.
- Coinsurance: This is a percentage of a treatment cost that a person will need to self-fund.
- Copayment: This is a fixed dollar amount that an insured person pays when receiving certain treatments.
There are certain things Medigap will not cover. Medigap coverage does not include the following:
- Long-term care
- Vision or dental services
- Hearing aids
- Private-duty nursing
For additional coverage information, connect with an agent.
How Do I Qualify for Medigap Coverage?
There are essential details about Medigap that you need to know, including what qualifies you for coverage and other information such as:
- You must be enrolled in Part A and Part B of Medicare.
- You pay a monthly premium for Medigap in addition to the monthly Part B premium.
- Medigap coverage is for one person only.
- You can add on Medigap from any insurance company that offers Medigap.
- Medigap does not include prescription drug coverage.
- You cannot have both Medigap and a Medicare Advantage Plan.
If you have additional questions about Medigap coverage, reach out to an agent for more information.
When Can I Enroll in Medigap Coverage?
You can enroll in coverage during your enrollment period, which is the first day your turn 65 and the six months following that date. You cannot enroll in a policy without first having Part B coverage, so it’s essential you enroll in Part B before your Medigap policy.
Get Started Today
Our agents at E-Shop Medicare are ready to assist you with coverage questions you may have, such as Medigap enrollment. Connect with an agent today to discuss Medigap for reducing out-of-pocket costs that your traditional Medicare does not cover.