Medicare Supplement Plans

(Medigap)

Medicare Supplement plans cover 10 million Medicare beneficiaries. Also referred to as Medigap plans, these policies help pay for your share of Medicare expenses, such as your deductibles and co-insurance. Medicare supplement insurance plans are available for purchase in all 50 states and are very popular with people who want little to no copays when they access healthcare services.
Many people new to Medicare feel surprised to find that Medicare covers only 80% of your Part B expenses. The other 20% can be devastating to you financially if a serious illness arises. You can choose a Medicare Supplement that will pay some or all of that 20% for you, among other things. Supplemental insurance for seniors with Medicare essentially buys you peace of mind by eliminating that cost-sharing responsibility.

Medicare Supplement

Insurance plans to cover the gaps in Medicare that normally you would have to pay.

Your doctor or medical service provider bills Medicare for your service or procedure
Medicare pays the approved portion and sends the excess amount to your Medigap plan
Your Medigap plan pays the excess amount according to the terms of the plan you chose
Medicare Part B only covers 80% of your medical expenses. Medicare Supplement (Medigap) plans help pick up the excess costs.
Also, during your one-time open enrollment window, you are guaranteed the right to purchase a Medicare Supplement plan. Your health status does not matter when you buy a plan during this six-month window.

Scott Knows Medicare

What is Medicare Supplemental Insurance?

Medicare supplements came into being shortly after Medicare was signed into law. Because you are required to pay for some things, like 20% of outpatient expenses, supplemental policies were created to pay those expenses for you. This allows people to feel less worry over how much each medical visit will end up costing them.

Some of the primary advantages of a traditional Medicare Supplement policy are:

Some other things to know about Medicare Supplement insurance:

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