Medicare Supplements, or Medigap, is a type of insurance that exists to fill the “gaps” that are left by Original Medicare. The gaps being referenced and the out-of-pocket costs that many Medicare beneficiaries are left to pay after receiving covered services. Some people do not like having to pay these costs, so they instead get a Medigap plan to pay it for them.
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Medicare Supplements cover costs that are not paid by Part A and Part B of original Medicare. Through a plan, you can have copays, coinsurance, and deductibles all paid for. Though there are ten different plans available and each pays a different assortment of costs.
With some plans, you get coverage for everything, while others only pay a portion of your out-of-pocket costs. Something is better than nothing, though, so even the lighter Medigap plans can be incredibly helpful for lowering out-of-pocket health care costs.
With a Medigap plan in place, you pay your premiums and the plan pays your out-of-pocket costs up to a point. What costs are covered will be specified in the documentation you receive when you sign up for the plan. These plans do not cover Medicare Advantage plans or Part D prescription drug plans.
Medicare Supplement Insurance plans offer a range of different benefits. Some of the costs that may be covered include:
You may not need the most extensive Medigap plan if you do not use your Medicare benefits often. But, having some additional coverage in place can still be helpful. The talented Medicare Advisor of Louisiana LLC team is ready to help you find a plan that suits your specific needs. Use the contact form on this page to get in touch today.