Medigap offers the greatest financial protection for elderly persons interested in health insurance. These plans are listed in CNN’s “Ultimate Guide to Retirement” as filling in the gaps where Original Medicare leaves off. Here are some important things that you should know about Medicare Supplement plans, AKA Medigap.
1) All Plans are the Same
What does this mean? All equal Medigap plans offered by different insurers are all set by the government, and must offer an identical set of coverage.
If you live in Massachusetts, Minnesota or Wisconsin, call 800-930-7956 or go to our Medigap Overview Page, as Medigap policies in these 3 states differ from the rest of the country.
2) Medigap is for Individuals Only
This only means that spouses have separate policies. So, if you want to purchase a plan for your husband or wife and yourself, you would need to pick two plans.
3) Basic to Comprehensive Medigap
The plans range from A through N, and offer varying coverage, from basic to most comprehensive. For example Medigap Plan A is the most basic, but still covers coinsurance on hospital stays, blood transfusions, and coinsurance on hospice care. Medigap A is the most basic “core” policy.
It would seem logical that as you move through the alphabet plans so would the level of comprehensive coverage, however F offers the greatest protection. Click here to compare Medigap A and Medigap F.
4) Alternative: Medigap Plan High F
Medigap High F is a great alternative to Plan F, as it offers the same great financial protection with a high deductible attached to it of $2,140 in 2014 -which isn’t that high.
Next Steps:
If you’re ready to sign-up for Medigap or have any further questions please contact Senior65.com.