Medigap plans are exactly as the name implies: medical health insurance plans purchased from a private company to help cover “gaps” or health care costs not covered by the original Medicare coverage. These may include things such as: copayments, deductibles and even coverage for international travel. Separate policies are required for spouses as Medigap policies only cover one person. The enrollment period for Medigap coverage is specific to your 65th birthday and/or Part B Medicare coverage start date.
Medigap plans are available to individuals who already have Medicare Parts A and B and not available to those who have a Medicare Advantage plan. Typically, Medigap plans do not cover prescriptions, dental and vision, long term care or private nursing and certain products like hearing aids and glasses.
Like other insurance plans, you typically pay a monthly premium to a private insurance company. The premium prices may vary among providers and on your age, where you reside and what type of plan you’re seeking. Preexisting conditions are sometimes also taken into consideration and an insurer can deny coverage entirely. There are some exceptions but they are based on an individual, case by case situation.
Senior Patient Advocates are licensed insurance consultants that do not sell insurance plans. However, our consultants can help you determine the best coverage for your individual situation.
Please contact us for more information on Medicare Coverage or to find out if Medigap is an option for you.