What is a Medicare Supplement plan?
A. A Medicare Supplement insurance plan helps cover the “gaps” in coverage that are left unpaid after Original Medicare pays its portion of your health care expenses. For this reason, these plans are often referred to as Medigap plans. Unlike a Medicare Advantage plan, which replaces your Original Medicare benefits, a Medicare Supplement plan is purchased in addition to your Original Medicare benefits. Medicare Supplement policies are standardized into twelve plans – labeled “A” through “L,” each with its own set of benefits. Plan A covers the most basic benefits. Plans “B” through “L” provide additional coverage beyond the basics. Plans “K” through “L” are new plans that help limit out-of-pocket costs for doctor’s services and hospital care. Medicare Supplement policies are sold by private insurance companies. While the costs of these policies may vary, individual insurance companies must provide the same standardized benefits as outlined by law. In order to purchase a policy, in gene
A Medicare Supplement insurance plan helps cover the “gaps” in coverage that are left unpaid after Original Medicare pays its portion of your healthcare expenses. For this reason, these plans are often referred to as Medigap plans. Unlike a Medicare Advantage plan, which is an alternative to your Original Medicare benefits, a Medicare Supplement plan is purchased in addition to your Original Medicare benefits. Medicare Supplement policies are standardized into 12 plans – labeled “A” through “L,” each with its own set of benefits. Plan A covers the most basic benefits. These basic benefits are also covered in each of the remaining Medicare Supplement plans – B through L. Plans B through L provide additional coverage beyond the basics, with Plan J offering the most benefits. Medicare Supplement policies are sold by private insurance companies. While the costs of these policies may vary, individual insurance companies must provide the same standardized benefits as outlined by law. To purc
