Medicare Supplements

A Medicare Supplement (also known as a "Medigap" policy) is health insurance that supplements Original Medicare and is available to those ages 65 AND enrolled in Medicare Part B, as well as some under 65 who qualify for Social Security Disability. It helps pay some of the health care costs that Medicare doesn’t cover, such as co-payments, deductibles, and coinsurance.

A Medicare Supplement policy is private insurance, sold by various insurance companies, with premiums to be paid by the individual Medicare recipient. Medicare Supplement policies do not offer any prescription drug coverage. All plans have been standardized by Medicare for sale in most states, and are subject to Federal as well as state laws, so each company that sells Medicare Supplement policies will have the same basic benefits, although they do not have to offer all the plans, identified by the letters A through N. A couple of the plans will pay both Medicare Part A as well as Part B Deductibles, along with the 20% co-insurance. This type of plan is usually underwritten and an applicant could be accepted or declined, except in certain instances, such as Open Enrollment or Guaranteed Issue situations.

With Original Medicare as well as a Medicare Supplement, Medicare will pay its share of the approved- amount, after which the Medicare Supplement policy will pay its share. Medicare Supplement policies will pay only those claims that Medicare approves, so if Medicare doesn’t approve and pay a claim, the Supplement policy won’t pay it either.

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