Medicare Supplement Insurance, sold by private insurance companies, helps pay some of the out-of-pocket healthcare costs that Original Medicare (Parts A & B) don’t pay. The plans, categorized by letters A-N, are standardized meaning they include the same basic benefits regardless of where you buy them.
Medicare Supplement plans cover some of the healthcare costs Original Medicare leaves behind. These plans fill your coverage gaps, including copayments, deductibles, and coinsurance. As a result, when you have a Medicare Supplement (Medigap) plan, you will have little-to-no out-of-pocket costs for Medicare-covered services and equipment.
Whether you retire at 65 or keep working, you’ll be eligible for Medicare. Which means, you’ll have new choices in health plans — maybe more options than ever. There’s a lot to think about. So, it’s smart to start planning by asking these important questions.
Make sure you are educated on all of your Medicare related options so you can make an informed decision. These FAQ’s are here to give you unbiased information regarding your Medicare related coverage choices.