5 Things You Need to Know About Supplement Insurance to Medicare

Medicare Supplement Insurance (also called Medigap) covers the costs that Medicare does not. This includes deductibles, coinsurance, and co-payments.

Unlike Medicare, Medicare Supplement policies are purchased through private insurance companies. They are not the same as Medicare Advantage Plans (or Medicare Part C) and a Medicare recipient cannot enroll in both.

The following are a few additional things you need to know about Supplement Insurance to Medicare:

  1. You must have Medicare Part A and Part B in order to enroll in Medigap.

  2. If you are currently enrolled in a Medicare Advantage Plan, you must cancel it before enrolling in a Medigap Policy. You also are not eligible for a Medigap policy if you have a Medicare Medical Savings Account.

  3. Medigap Policies are only available for one person. Spouses will each need to purchase individual plans.

  4. Medigap is guaranteed renewable. This means that you cannot be canceled for any reason other than non-payment of premiums.

  5. Medigap does NOT cover prescription drugs.

More information can be found at medicare.gov. Please don’t hesitate to contact us with any questions regarding eligibility or coverage for Supplement Insurance to Medicaid.

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