Medicare supplement plans

Medicare supplement plans which are popularly referred to as (Medigap) is a policy that exclusively helps in supplementing or covering some of the health care cost which are not covered under the original Medicare such services included; deductible, copayments, and coinsurance.

Just like the Medicare Advantage plans, Medigap Plans are also sold by the private companies which must be approved by the Medicare as well. This policy does not only cover the beneficially while in the united states of America, but it extends it medical care services even when the beneficiaries have traveled outside the united states either for vacation or other personal engagements and endeavors. This attribute indisputably makes the Medigap more appealing among other policies in the country.

Enrolling for a Medigap policy while having an original Medicare does not deny the beneficially any benefit, as Medicare will continue to paying its share to cover the beneficially on health care cost, while the Medigap, on the other hand, will pay its share. When buying Medigap, there are so many factors that you need to understand such factors includes, its pertinent to have Medicare Part A and Part B, it’s important to know that Medicare only covers one person but not the entire family which therefore means everyone should have his/her Medigap policy. Another critical factor to understand is that if for any chance you have a Medicare Advantage plan doesn’t limit you from applying the Medigap plan. The last but not the least to know about the Medigap plan is that it’s against the law for anyone to sell you a Medigap policy if you have a medical saving account plan.

There is a vast difference between Medigap and Medicare Advantage plan as the latter purposively deals with Medicare services while the former only supplements the original Medicare benefits. Another significant disparity between the two is that Medigap does not cover long-term care which is widely covered by the Medicare Advantage plan.

The Medigap does not cover insurance plans such as Medicare, prescriptions drugs plans, Medicaid, Medicare advantage plans, TRICARE, and veterans benefits as well as employee under federal employee health benefits program ( FEHBP).

Deciding to drop a Medigap police probably for Medicare Advantage plan that offers prescriptions drugs coverage it should ultimately be done with a lot of care putting into consideration proper timing to avoid a late enrollment penalty which must be covered.