Medigap policies are typically sold by private insurance companies, and billing for Medigap policies works differently than billing for Original Medicare. Here’s how Medigap billing works.
How to pay your Medigap Premium Bill:
First and foremost, you must pay your monthly bill (called a premium) directly to your Medigap insurance provider. If you signed up for a Blue Cross plan here on Senior65.com, you would pay Blue Cross and not Senior65.com. You cannot pay your monthly Medigap bill using social security like you can with your part B premium (Source).
The Medigap payment options may vary depending on the insurance company, but here are some common ways to pay your Medigap premium:
- Automatic bank draft: You can set up automatic payments from your bank account so that your Medigap premium is automatically deducted each month. Companies often call this EFT (electronic funds transfer).
- Online bill pay: Many insurance companies offer online bill pay options, allowing you to make a one-time payment or set up automatic payments through their website.
- US Mail: You can mail a check or money order to the insurance company’s billing department. The insurance company typically provides the address for payments on your billing statement or on their website.
- Phone: This is rare but a few insurance companies allow you to make payments over the phone using a credit or debit card.
To see how much a Medigap plan would cost, get an instant quote of top Medigap insurance providers here.
How to pay for medical fees with Medigap
When you receive healthcare services, Original Medicare pays its portion of the bill first. Then, the healthcare provider bills your Medigap insurance company for any remaining costs that the Medigap policy covers. Your Medigap insurance company then pays its portion of the bill directly to the healthcare provider. In most cases, you will not even see the bill but you may receive an “explanation of billing” that shows who paid what.
If your Medigap plan doesn’t cover the Part B deductible and you have not yet met your deductible for the year, you will need to pay that amount before your Medigap policy will begin covering costs. You will oftentimes pay this amount directly to your doctor but sometimes you will receive an invoice in the mail for this amount. The part B deductible is currently $240.
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What if I forget to pay my Medigap bill?
It’s important to make sure you pay your Medigap premium on time to avoid any lapses in coverage. If you don’t pay your premium on time, your insurance company may cancel your policy and you may not be able to reinstate it. If you have questions about paying your Medigap premium and you signed up for your plan using Senior65.com, give us a call and we can help you. If, not you can contact your agent or the insurance provider directly.