Medigap refers to Medicare supplement plans that offer extra health insurance. This can be purchased from private insurance companies that help in paying health care costs that are not covered by Traditional Medicare. In fact, Medigap is available if you go outside the United States. However, Medigap does not cover dental care, hearing aids, long term care, vision care, private duty nursing and eyeglasses. Likewise, the prescription drugs are not covered by most plans.
Medigap policies are available to people having Part A and B Medicare supplement plans. This helps in hospital services payment and doctor services cost. Note: People having Medicare Advantage Plan may not get a Medigap plan. It is best you check in your area about the availability of Medigap plans.
Medigap standard plans are from A through N and provide health coverage to varying levels. Premiums among the insurance companies may vary, but the benefits remain the same for each Medigap standard plan. For instance, a Plan C Medigap policy provides the same of benefits, regardless of which company policy you have. The Medigap standard policies are different only in Wisconsin, Massachusetts and Minnesota.
For Medicare supplement plans, there is open enrolment period and this covers a period of seven months. It starts from your 65th birthday month as long as you have Part B Medicare signed up or within a period of six months of Part B Medicare signing. This is the time you can buy Medigap policy even if you have health concerns and the advantage is you will pay the same price as any healthy individual. But, if you consider buying outside this window a Medigap policy, there is no assurance to get the same coverage. However, the rates may be higher, if you fail to get covered.
For Medicare supplement plans, the monthly premium must be paid apart from Part B Medicare premium. The Medigap policy cost is based on the plan type you buy, your location, age and the insurance company. A Medigap standard policy is renewable, regardless of your health concerns, if you are paying on time your premiums.
You can wait for a period of six months to receive the coverage, if you already have a health pre-existing condition. This is because the insurer can refuse the costs beyond pocket coverage for pre-existing conditions in that period. However, after six months, it is a must for the Medigap policy to cover this pre-existing condition. Go to https://www.medicareadvantageplans2019.org to find out more.