People who choose Original Medicare over Medicare Advantage are often concerned about rising out-of-pocket costs. Consider a Medicare Supplement Insurance plan if you have Original Medicare and want to lower the amount you spend on deductibles, copayments, and coinsurance. If you’ve never heard of these plans before, here’s everything you need to know.
What Is Medigap?
Medicare Supplement Insurance, also known as Medigap, is a form of insurance that provides additional coverage to Original Medicare plan members. With Medigap coverage, you get help paying your out-of-pocket health care costs, like coinsurance, deductibles, and copayments.
Who Needs Medigap?
Medigap isn’t right for everyone, but it does work for most Original Medicare members. In exchange for paying your premiums, you get help paying your out-of-pocket costs. If you often face high out-of-pocket expenses, a Medigap plan should make sense for you. With the right plan, you can significantly lower your overall healthcare costs.
Although, if you don’t find yourself spending much on health care expenses, it may not be worthwhile to purchase a Medigap plan. To find out if Medigap makes sense for you, speak with an insurance professional today. You can reach an insurance agent now by calling (844) 657-0231.
What Does Medigap Cover?
Medigap plans help fill the gaps in Original Medicare. While Original Medicare pays for much, but not all, of the costs for covered health care services and supplies, Medigap plans pay some of the difference. Some items covered by Medigap plans include:
- Foreign travel emergency health care costs
- Excess charges
The amount that’s covered depends on which plan you choose. While some plans are cost-sharing plans that only cover a percentage of the listed items, others cover the whole amount.
Find Medigap Coverage
Medigap coverage can lower your health care costs dramatically. To learn more about the plans that are available, contact a Medicare specialist today.
You can reach an agent by calling SBHS at (844) 657-0231.