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FAQ Medicare Supplement Insurance Options

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Medicare can be a lifesaver, but it doesn’t cover everything. If you’re thinking about adding to your coverage with supplement insurance, it’s important that you understand all of the rules and regulations first. Here are some common questions — and their answers — that you might have about Medicare supplement insurance options.

What is Medicare Supplement Insurance?
Sometimes referred to as “Medigap,” Medicare supplemental insurance is additional private-supplier coverage you can purchase on top of your existing coverage with an original Medicare plan.

What does it do that Medicare doesn’t?
Medigap insurance helps cover some of the extra fees that may not be supplied by traditional Medicare. That includes bills such as copayments, deductibles, and coinsurance. Some may also include options for things like health coverage while traveling outside the U.S.

Who will be covered by my supplement insurance?
It’s important to note that most Medicare supplement insurance options only include coverage for one person. If you need coverage for yourself and a spouse, you’ll each have to purchase separate Medigap plans.

Is there anything that Medigap won’t cover?
With few exceptions, supplemental Medicare insurance will not provide coverage for hearing aids, corrective eyewear, private nursing, long-term care, or vision or dental.

Are the supplements renewable?
Medigap options have a guaranteed renewal policy from year to year. That means that even if you experience a sudden onset of disease or illness, your coverage cannot be canceled so long as you continue to pay the premiums.

Where do I buy Medigap?
You may purchase a supplemental insurance package from any provider in your state who is licensed to do so.

Will it cover prescription medications?
As of 2006, Medigap plans do not include coverage for prescriptions. That coverage is now included under Medicare Part D: Prescription Drug Plan.

Is Medigap the same thing as Medicare Advantage?
No. Medigap only provides a supplement to your original Medicare plan. A Medicare Advantage Plan, by contrast, allows you access to Medicare benefits.

What do I need to qualify for Medigap?
In order to purchase a Medigap plan, you need to already be enrolled in Medicare Parts A and B.

Still have further questions about your Medicare Supplement Insurance options? Contact a qualified provider to learn more about your choices, coverage, and care.

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