When determining if you need a Medicare Supplement (Medigap) plan added to your Original Medicare (Part A and B) coverage, you need to understand the coverage that is provided. A Medigap plan can be a great option for those looking to have some out-of-pocket costs covered, but for others, this may not be the best option.
What is Medigap?
Medigap is used to fill the gaps in Original Medicare coverage. There are ten plans available in most states, and each plan will provide a specific amount of coverage for certain costs. Some of the costs that may be covered by a Medigap plan can include:
- Part A coinsurance and hospital costs
- Part B copayments and coinsurance
- Your first three pints of blood
- Part A hospice care
- Skilled nursing facility care
- Part A deductible
- Part B deductible
- Part B excess charges
- Foreign travel emergency
If you are interested in also having prescription drug coverage, do note that Medigap plans will not provide this coverage. However, you can still enroll in a Medicare Part D plan to get prescription coverage.
Is This Coverage Right for You?
If you’re interested in having coverage for some, most, or all of the costs mentioned above, then reach out to Coastal Insurance Planning today! We can help you compare the Medigap options available to you and ensure you can get the coverage you need.
Just keep in mind that in order to receive Medigap coverage, you must first be enrolled in Original Medicare. You also will not be able to enroll in a Medigap plan if you are currently enrolled in Medicare Advantage. Why is this? It’s because Medigap plans were designed to supplement Original Medicare coverage only, and Medicare Advantage is more of an alternative to Original Medicare.
Get the Coverage You Need Today!
Whether you are enrolling in Medigap for the first time or are interested in switching plans, Coastal Insurance Planning can make the process as easy as possible for you. Give us a call today to learn more about the Medigap plans available!