Are Medigap Policies The Same Everywhere?

A Medicare Supplement policy is designed to cover the gaps in traditional Medicare. This much is obvious because of how they are named. The potential buyer may wonder if all Medigap policies are the same. It is a good question to ask and one that deserves an answer. All Medicare Supplemental policies start out with a guaranteed level of coverage. The Federal Government required that all plans become standardized in the 90s. There is a base level of coverage an individual can receive from the plan that he buys. The base levels of coverage are determined by the federal government.

Does That Mean that A Medicare Supplement Policy Will Be The Same Everywhere?

No, it does not. Medicare Supplement policy providers are are required to provide a base level of coverage for every plan that they offers. The companies are allowed to provide additional coverage under each plan. The Federal Government allows this under the guise of offering new and innovative coverage. This new and innovative coverage will result in differences in the same plan with different letters. The base level of coverage will be the same. Many companies do not provide more than the Federal government requires that they do.

How Do I Know If My Medicare Supplemental Policy Has This Extra Coverage?

The insurance company will tell you if you have this extra level of coverage. The coverage is covered in your documentation. It is best to make sure that you have the documents that tells you exactly what your insurance plan will and will not cover. If you lose the documentation, many of the companies make the coverage plan available on their websites. You just need to dig around the site to find the information that you are looking for. The Federal government also publishers what the standardized Medigap policies must cover.

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