There is a need for supplemental insurance coverage as a provision to help fill in the gap that exists between the amount that Medicare pays for medical health charges and the amount that you are billed by the providing physician or medical facility. Often times a Medicare recipient is left “holding the bag,” so to speak, by having to pay large amounts of money out-of-pocket when Medicare didn’t pay the full amount charged for medical services.
The terms “Gap” and “Medigap” are used for supplemental insurance policies that are provided by private insurance companies to give you coverage that will fill the “gap” you have been required to pay. Twelve different choices of policies are available. They are labeled from A to L.
In order for you to decide which of the twelve is the best Medicare supplement policy for you, it is important that you research and find out the qualities of each supplemental policy. You may not realize it, but Gap Plan A with one insurance company provides exactly the same coverage as Gap Plan A with all other insurance companies. That plan would be beneficial for someone who needs just a little more coverage than Medicare provides, but doesn’t expect to be using much in the way of healthcare service.
Make the wisest decision as to what is the best Medicare supplement for you. Make sure you know the facts. Knowledge will empower you to choose the Medicare supplement that effectively fills the gaps that you have. Your friend’s plan may not be best for you.