Medicare Supplement Insurance


What you need to know about Medigap policies

Medicare Supplement insurance helps seniors protect themselves from financial loss due to medical bills by helping to cover the gaps in regular Medicare including deductibles, coinsurance, copays, and excess charges.

These plans were designed to cover some or all of the gaps that Medicare doesn’t cover.

Medicare Supplements are also known as Medigap Plans.

There are currently 10 separate plans available, lettered A through N.

All Medigap Plans are standardized by the U.S. Government and must offer the exact same benefits per plan letter regardless of the issuing insurance carrier.

As an example, Plan G from Aetna, Cigna or Medico must contain the exact same benefits as a Plan G issued by Cigna, Manhattan Life, United Healthcare, Central States Indemnity, Transamerica or Mutual of Omaha.

Although the benefits are required by the U. S. Government to be identical, the premiums that each insurance carrier charge are not regulated by the U. S. Government and can vary by substantial amounts.

In fact, on page 9 of Medicare’s Annual CHOOSING A MEDIGAP POLICY HANDBOOK – 52 PAGES, it states in bold letters, “Cost is usually the only difference between Medigap policies with the same letter sold by different insurance companies.”

Also, page 69 of the 2022 MEDICARE & YOU HANDBOOK – 120 PAGES tells us that all Medigap (Medicare Supplement Insurance) plans are standardized and that they must all provide identical benefits per plan letter and it clearly states, “Every Medigap policy must follow federal and state laws designed to protect you”.

It also states that “Different Insurance Companies may charge different premiums for the same exact policy” 

The Good News!

Once you understand how the different plans work and that Government mandated standardization essentially allows you to easily decide on the coverage you would prefer, you can then start to shop rates from the different companies offering insurance plans in your area.

Some rates are displayed online, however, you should strongly consider speaking with a State Licensed Agent because rarely are all of the rates for all of the plans available as not all insurance carriers will allow their rates to be displayed online.

Also, it’s important to speak with a State Licensed Agent to ensure that you’re getting a preferred Medigap plan that is appropriate to your unique situation and needs based on your health and your budget.

You don’t have to shop for a preferred Medigap plan the old fashioned way, by having an insurance agent inconvenience you by coming into your home and not leaving without the “sale”.

Today you have a tremendous amount of information and resources available online and with a quick telephone call to a State Licensed Agent at Medigap & More at 1-877-552-4089

These days it’s easy to get all of the information that you need to find the right policy at the right price.

More information regarding Medigap Policies

You must have Medicare Part A and Part B in order to obtain a Medicare Supplement.

You can buy a Medigap policy from any insurance company that’s licensed to do business in your state.

Any standardized Medigap policy is guaranteed renewable even if you have health challenges.

This means the insurance company can’t cancel your Medigap policy as long as you pay the premium.

Medigap policies sold after January 1, 2006, aren’t permitted to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).


When To Enroll in a Medicare Supplement Plan

If you are just enrolling in Part A and Part B you have a six-month Initial Enrollment Period also known as an Open Enrollment Period.

During this time you may enroll in a Medigap plan without any medical underwriting and be guaranteed coverage regardless of any pre-existing conditions you might have.

Therefore it is a good idea to start your Medicare supplement coverage the same day as your effective dates of Part A and B Medicare.

If you choose to opt out of Medicare Part B due to having credible employer health coverage, you are still eligible for an open enrollment period when you do eventually enroll in Medicare Part B.

We can help you every step of the way to make sure you understand the options available to you.

We’ll even help you apply for your Medicare Supplement coverage once you’ve determined which Plan is your best option based on your individual needs and situation.

We help make Medicare easy!

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We’re here to help and look forward to speaking with you!!

Contact us to discuss how we can help meet your unique needs.

By contacting the phone number on this website you will be directed to a State Licensed Agent.