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MediCare Supplements
Medicare Supplements are private insurance plans that pay some of the costs not covered by Original Medicare. Also called Medigap policies, they are standardized plans identified by letters A through N. Many people confuse these letters with the Parts of Medicare. These are different — they are letters that identify Medigap plans.
What is MediGap?
Medigap is supplemental insurance that helps pay some of the deductibles, copays, and coinsurance — aka the “gaps” in Medicare. Depending on which plan you select, it can leave you with little to no out-of-pocket costs when you visit the doctor. When you buy one, you keep Parts A and B and can visit any doctor in the U.S. who accepts Medicare!
Who Qualifies for MediCare Supplement Plans?
How the Plans Are Rated?
- Community-rated: Your premium is the same whether you purchase a plan at 65 or 70. Your rates may increase but not due to your age.
- Issue-age-rated: Your premium is based on your age when the company FIRST issues you a policy. Premiums may increase due to inflation, but never because of your age.
- Attained-age-rated: Your premium is based on your current age when you purchase the plan. It will keep increasing as you age.
ABC Medicare can help you compare plans in your state and choose the one that offers the best price.
Do MediCare Supplements Cover Prescription Drugs?
No. Since Original Medicare does not cover them, your Medicare Supplement plan won’t either. If you need prescription drug coverage, you’ll want to enroll in a stand-alone Part D plan.
Can I Be on the Same Plan as My Spouse?
No, you and your spouse will need to purchase separate Medicare Supplement plans if you both want this coverage.
When Should I Buy a Plan?
The best time to get a policy is during your Medigap Open Enrollment Period. This six-month period begins the first day of the month you turn 65 and are enrolled in Medicare Part B. During this window, insurance companies cannot use medical underwriting, and you often get better rates and have more options to compare.
Picking the Right MediGap Policy
The most popular supplement plans are F, G, and N because they cover most (if not all) of your out-of-pocket healthcare costs. However, the right plan for your friend, neighbor, or relative may not be the best choice for you. There’s no one-size-fits-all approach with Medicare, and Medicare Supplements are no different in this aspect.
Book a FREE Consultation
Whether you’re new to Medicare or have been enrolled for years, ABC Medicare Champions will provide guidance and support you on your journey. We invite you to schedule a one-on-one consultation with us — it won’t cost you anything!
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Contact
Phone: (580)678-9610
Email: sebastian@champufs.cc
Address:
1401 SW Parkridge Blvd Ste D.
Lawton, Ok 73505
We do not offer every plan available in your area. Any information we provide is limited to the plans we do offer in your area. Please contact Medicare.gov or 1-800-Medicare to get information on all of your options.