Individuals meed Medicare gap coverage or a Medigap policy for costs not covered by original Medicare.
Original Medicare is health insurance for seniors or anyone who is age 65 or older. Individuals under 65 can also be on Medicare if they have specific disabilities or any type of End-Stage Renal Disease. This insurance will consist of Medicare Part A and Part B. However, this will not cover all of your health care costs.
Medigap policies are also known as Medicate Supplement Insurance. These are policies designed to be a stopgap for health care that is not paid by Medicare. This includes a deductible, coinsurance payment, and a copay for covered services. Medicare pays its share of the cost and then the Medigap policy pays its share. You are responsible for any remaining payments.
All health insurance companies offering Medicare gap coverage or Medigap policies in your state need to offer Plan A. Medigap polices will range from Plan A through Plan N. However, Plans E, H, I and J, are no longer offered for sale. Plan C and Plan F also must be offered if any other plan is being sold. A policy for Medicare gap coverage will be standard to easily compare among other available plans. Your Medigap policy does not cover the costs of long-term care, dental care or vision.
Insurance companies in your state also do not need to offer all Medigap polices that are available. They will sell you a policy even if you have a pre-existing condition or other health issues. A Medigap policy can be purchased during your open enrollment period. However, you must have Medicare Part A and Part B to be eligible to buy Medicare gap coverage. You need to pay a monthly premium for a Medigap policy and your monthly Medicare Part B payment.