What is Medicare Supplemental Insurance?
Medicare Supplemental Insurance (Medigap) plans are health insurance policies that cover the extras not included in Medicare Part A and Part B. Government regulations allow Medicare Supplemental Insurance Brokers to offer seniors to choose one of 10 standard Medigap plans. Supplemental Insurance Plans, A through L, are offered by private insurance companies that are not officially connected to the government Medicare program.
It is important to note that all private insurance carriers who offer a given Medigap plan are offering the same exact levels of coverage, simplifying the purchasing process. Private Insurance Companies are competing with one another based on customer service, monthly premiums, and more. The policy that you choose will depend a lot on your budget, lifestyle, and health. It is important to compare Supplemental Plan options to educate yourself to the differences between the available plans.
Once you pick the Medicare Supplemental Plan that best suits your wants and needs, it is important to compare insurance companies. Finding a carrier who offers the perfect combination of premiums and other significant features is just as important as finding the correct plan.