What is a Medicare Supplement?

A Medicare Supplement Insurance also referred to as Medigap, is a policy designed to help pay part of the health care costs that were left uncovered by the Original Medicare, such as deductibles, co-insurance and co-payments

Unlike Original Medicare, a Medigap plan is offered via private insurance providers, and you will be required to pay the monthly Medicare Part B premium. Medigap policies must follow state and federal laws that are designed to protect you. If you currently have Original Medicare and you purchase a Medicare Supplement, here’s what happens:

  • Your Medicare pays its approved share of the amount of money for covered healthcare expenses
  • Then, the Medicare Supplement pays its part

What Is Not Covered by Medicare Supplement Plans?

Medicare Supplements don’t cover the following supplies and health services.

  • Hearing aids
  • Prescription drugs
  • Eyeglasses
  • Dental care or routine vision
  • Long-term care (care in an assisted living facility or nursing home)
  • Private-duty nursing
  • Union or employer plans, including the FEHB Program
  • Veterans’ benefits
  • Insurance policies related to long-term healthcare
  • Indian Health Services
  • Medicaid

What Do You Need to Know About Medigap Policies?

  • In order to qualify for a Medicare Supplement, you are required to have Original Medicare Part A and B.
  • In case you have a Medicare Advantage Plan, you are eligible for Medigap policy application. However, make sure to leave behind the Advantage Plan prior to staring the Medigap policy.
  • You make payments to the private company on a monthly basis for your Medicare Supplement policy. You pay this monthly premium aside from the monthly Part B premium that is paid to the Medicare.
  • A Medicare Supplement only covers a single person at one time. If you and your partner need Medicare coverage, you will each have to buy individual policies.
  • You can purchase a Medicare Supplement policy from any insurance company that has the license to sell one in your state.
  • Premium charges may differ on the basis of location and plan, even for the same benefits.
  • Generally, Medicare Supplement plans are guaranteed renewable for, provided that you continue paying your premium.
  • It is illegal for anyone to sell you a Medicare Supplement Insurance if you currently have a Medicare Medical Savings Account Plan.

Newest Articles on our Blog

Help with Obamacare – Deerfield Beach FL

Help with Obamacare – Deerfield Beach FL

In need of help making sense out of Obamacare? In Deerfield Beach there are over 60 different plans available on the marketplace. It can be difficult to sort through all these plans and find the best one for your needs and your budget. At Florida Health Agency, we can...

read more

Get Your Free Copy of the “Ultimate Guide to Medicare” video and eBook from Florida Medicare Agency!

This book helps you learn about the different parts of the Medicare program, including Medicare Part A and Part B (together, they are often called “Original Medicare”), Part C (often called “Medicare Advantage”) and Part D (the part of Medicare that covers your prescription medications).

We would like to help you.

Speak to us about your Health Insurance requirements.

This website and its contents are for informational purposes only. Nothing on the website should ever be used as a substitute for professional medical advice. You should always consult with your medical provider regarding diagnosis or treatment for a health condition, including decisions about the correct medication for your condition, as well as prior to undertaking any specific exercise or dietary routine.

Florida Health Agency is a licensed health insurance agency certified to sell Medicare products.
Medicare has neither reviewed nor endorsed this information.

Get In Touch

English: 954-332-9768
Portuguese: 954-859-2602
Fax: 954-301-2282

See More

Individual Plans
Group Plans
HSA Plans

Come On In

2211 East Sample Road, Suite 101
Lighthouse Point, FL  33064

Follow Us

Facebook Twitter Google LinkedIn Yelp Angie's List

Email Us

Share This