How Does Medigap Affect My Medicare Insurance?





The Union of Medigap and Medicare Insurance

When seniors reach 65 years old, they are entitled to receive Medicare insurance Part A and B. At an additional cost, Part D may be purchased to cover prescriptions and co pays. To bridge the gap with full Medicare insurance coverage a Medigap, or supplemental policy, may be purchased through private insurers. These policies pay for deductibles, coinsurance, co pays, and excess Medicare charges. Medigap is an enhancement to eliminate large amounts of out of pocket expenses for the Medicare participants.

Medigap or Supplemental Insurance Coverage

Medigap can be purchased during a six month initial open enrollment when the minimum age of 65 has been reached. If employee or retirement insurance policies are available, they will serve as the Medigap for the policy holder. The Government has mandated that the Medicare insurance policies follow certain standards with all private insurance companies. Individuals may gain helpful information at the Government Medicare website in order to make a good choice for supplemental insurance. During the initial six month open enrollment period, Medicare members may change from one policy to another to find the best benefits for their needs.

Choosing the Best Medigap Insurance

It is no easy task to read and compare the many supplemental policies that are available. Local Senior Centers offer counselors to assist Medicare insurance participants in making a good choice. The cost of monthly premiums and the type of coverage are the most important factors for consideration. Begin reading about Medicare and Medigap to be prepared when Medicare coverage begins. Once a year during open enrollment, the policy may be changed to another if not completely satisfied.



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