Medicare Supplement Insurance, also known as Medigap, is designed to help cover out-of-pocket costs such as co-payments, coinsurance, and deductibles that Original Medicare doesn’t pay. These policies are standardized and must comply with federal and state laws for consumer protection.
Medigap policies are identified by letters (A, B, C, D, F, G, K, L, M, N) in most states.
Each Medigap plan offers the same basic benefits, with some plans providing additional coverage options.
You can choose a plan based on your specific healthcare and budget needs.
Massachusetts, Minnesota, and Wisconsin have their own standardization rules for Medigap policies.
Companies can choose which Medigap plans to sell.
If they sell any Medigap policy, they must offer Plan A.
If they offer additional plans, they must also provide Plan C or Plan F.
Medigap covers coinsurance after you have paid the deductible.
If your policy also covers the deductible, your out-of-pocket costs will be even lower.
As licensed insurance agents, we can guide you in comparing Medigap plans and selecting the right coverage for your needs.
This Medicare information section is here to educate you about your insurance options and provide you with the resources you need to help you select the right plan for your unique needs.
If there’s anything you need or if you have any questions, please feel free to contact us. We are here to help.