Medicare Supplement Plans
What Are Medicare Supplement Plans?
Traditional Medicare (Part A and B) does not provide 100% coverage for medical expenses such as deductibles, co-payments, and co-insurance. Therefore Medicare Supplement Plans were designed to help pay the costs that Medicare does not cover. Medicare Supplement Plans are also referred to as Medigap.
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Medicare Supplement Plans add additional health care insurance coverage provided by private insurance companies to cover the gaps in the traditional Medicare Plan. Medigap policies are regulated by Federal and State Laws in order to protect you as a consumer.
Medigap policies have to be clearly labeled as Medicare Supplement Insurance, and the policies are standardized for each State. |
Medicare pays the private insurance company a set amount of money for each person who enrolls in their plan. The insurance company then pays the medical bills for the enrollee. The enrollee is responsible for co-payments as described in each plan’s summary of benefits.
More Articles About Medicare Supplement
- Medicare Supplement Plans
- Am I Eligible For A Medicare Supplement Plan?
- Medicare Supplement Plans (Medigap) A through L And The New Plans M And N
- Do I Have Medicare Part D Prescription Drug Coverage With A Medicare Supplement Plan?
- Can I switch to a different Medicare Supplement Plan (Medigap)?
- Can I keep my current Medicare Supplemental Insurance or switch to a different Medigap policy if I move out-of-state?
- How Do I Cancel My Medicare Supplement Plan (Medigap Policy)?
- Does Medicare Supplemental Work With A Medicare Advantage Plan?
- What happens to my Medigap policy (Supplemental Insurance) if I join a Medicare Advantage Plan?
- How Much Does Medicare Supplemental Insurance Cost?
- How Do I Enroll In A Medicare Supplement Plan?
- What Is New For Medicare Suplemental Insurance Plans In 2010?
