Medicare Supplements

Understanding and determining which insurance plan would be best for you can be quite tricky. This is because there are several options for insurance plans, and each has different terms regarding eligibility, services included, and costs. However, if you’re looking to learn more about Medicare Supplements, we at Generations Insurance are here to help!

What Is Medicare Supplement Insurance?

Medigap helps complete the gap within Original Medicare and is offered by private insurance companies. As you might know, Original Medicare tends to pay for many services and supplies, but not everything. Therefore, having a Medicare Supplement Insurance policy by your side can help with some of the remaining costs, such as copayments, coinsurance, and deductibles.

Some Medicare Supplement policies tend to also cover services that Original Medicare does not cover. For instance, if you travel outside the United States, having Original Medicare and having a Medigap policy will result in Medicare paying its share of the Medicare-approved costs. After this, Medigap will also pay its share.

What You Should Know

Here are a few facts you should be aware of regarding Medicare Supplements:

  • To have Medigap, you must already have Medicare Part and Part B (Original Medicare)
  • The policies of the Medigap and Medicare Advantage Plan are different. Medicare Advantage is another way of obtaining Medicare benefits, whereas Medigap only supplements your Original Medicare benefits.
  • Since private insurance companies offer Medigap, you will have to pay them a monthly premium. This means you’ll be paying for Medigap and Medicare Part B as well.
  • Purchasing Medigap is only possible through an insurance company with a license to sell on in your state.
  • This policy only covers one person. Therefore, if you want Medigap for yourself and your partner, both will have to purchase it separately.
  • Finally, keep in mind that Medigap does not cover everything. Generally, Medigap policy will not consist of long-term care, vision care, dental care, hearing aids, eyeglass, and private-duty nursing.

What Are The Benefits Of Medicare Supplements

Not only does Medigap cover many costs that aren’t covered by Original Medicare, but another advantage of having a Medigap policy is that it will give you the flexibility and freedom of choosing any doctor or hospital that accepts Medicare.

Contact Generations Insurance Today

If you’re still having any concerns or questions regarding Medicare and its policies, don’t hesitate to contact us! Give us a call, and our team of experts will guide you accordingly.

Generations Insurance Logo

Start Your free Quote Today