Medicare Supplement, also known as Medigap, is supplemental insurance that covers the healthcare services and supplies not covered by Medicare. Medicare Supplement or Medigap refers to a variety of policies offered by many private insurance companies, but standardized across most states. If you have Medicare, you should be able to take care of all your health insurance needs by purchasing a Medigap plan.
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Medigap policies help you pay for copayments, coinsurance, and deductibles, which are not covered by Original Medicare.
Some Medigap policies offer coverage during travel outside the US—and other services not covered by Medicare.
Medigap plans are governed by federal and state laws designed to protect consumers.
Medigap policies are standardized, offering the same basic benefits no matter which insurance company sells that policy.
Spouses must buy separate policies, since each Medigap policy covers only one person.
Medigap policies to not include prescription drug coverage. (For that, join a Medicare Prescription Drug Plan Part D.)
Costs can vary, so compare plans carefully.
Premiums may go up as you get older.
Another option is to enroll in a Medicare Advantage Plan, which is an all-in-one bundling of Medicare Part A (Hospital Insurance), Medicare Part B (Medical Insurance), and (usually) Medicare Prescription Drug (Part D) that is offered by private insurers.
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