Medigap, also known as Medicare Supplement plan, basically covers the gaps in your Medicare policy. Just like Medicare, a person needs to be 65 or more to be eligible for Medigap, barring a few exceptions.
Here are some of the things you need to know.
Since Medigap complements the actual Medicare plan, you need to be enrolled for Part A and Part B. Also, you need to pay the premium for Part B, besides paying additionally for the Medigap policy. To be more precise, a Medicare Supplement Plan won’t work like a stand-alone cover. Besides age, people with certain disabilities may have Medicare. Please note that having Medicare doesn’t guarantee that enrollment for Medigap. It largely depends on the state you live in. If you are under 65 and have Medicare enrollment, you can check with your state to know if you can get an additional supplement plan. It should be noted that Medigap doesn’t cover for prescription drugs. If you need prescription drug coverage, you will need to enroll for Medicare Part D. You can check online to know more about Medicare supplement plans for disabled under 65.
Other things that matter
It’s important to note that a Medicare Advantage Plan is very different from a Medigap policy. If you already have an Advantage plan, you need to leave it before you can choose to take a Medigap cover. Also, you need to pay Part B premium regularly, besides paying for the supplement plan. One plan only covers one person, and hence if you need Medigap for your spouse, you need to take a separate policy. Medigap policies can be purchased from any insurance provider that has been licensed in your state for the purpose. Back in the past, some Medigap policies did cover prescription drugs, but that’s not an option anymore. If you need prescription drug coverage, you will need to join a Medicare Part D plan, also known as Medicare Prescription Drug Plan.
If you are looking for comprehensive cover, Medigap Plan F is a good choice. Many people also like to go for Plan C. Please note that policies with same letter have the same benefits in all 47 states, barring Wisconsin, Minnesota, and Massachusetts. As such, you should look for the lowest possible premium while comparing plans. For any further doubts and queries, feel free to check on the official website of Medicare, where you will find other minute details, as well.