Medicare Supplement Insurance (Medigap)
Going further into insurance, there is also an option to purchase Medigap in addition to your current insurance. Medigap is a Medicare Supplement Insurance that fills in the gaps in the Medicare insurance package. These supplemental packages are offered by private companies. Because Medicare Original pays for a lot, but not all of the health costs incurred, Medigap was created. Under this, you are insured for the remaining health care costs.
More information about the Medicare Original plans can be found here.
There are also Medigap policies that Medicare Original does not cover, such as medical care when you travel outside the US. If you purchase a Medigap policy in addition to your Medicare Original, the following will happen:
- Medicare will pay for the approved amount for covered health care expenses;
- Medigap policy pays the remaining amount.
There are, of course, some snags
- You must have at least Medicare Part A and B to be eligible;
- Medigap is not the same as a Medicare Advantage plan. These plans are for getting benefits, where a Medigap policy only supplements the original Medicare benefits;
- A monthly premium must be paid to the private insurance company for the Medigap policy. This premium must be paid in addition to the monthly Part B premium you pay to Medicare;
- Only 1 person is covered under the Medigap policy. Should you seek coverage with your partner, it is important that you both purchase a policy;
- Despite your health, the insurance company cannot cancel your Medigap policy. This means that each standard Medigap is guaranteed renewable;
- Medications are not covered, you must apply to Medicare Part D for that.
You will find the answers to all your questions about Medicare Cleaning Services here.
- Posted by Gerard Spierenburg
- On February 2, 2021