A Medicare Supplement (also called Medigap) is insurance that can be purchased to cover the above gaps in Medicare Parts A & B. They are standardized benefit plans that are offered by private insurance companies. There are ten lettered plans that companies can offer which are plans: A, B, C, D, F*, G*, K, L, M, N. (*Plan F and Plan G also come in a high-deductible plan option.) With Medicare being the primary coverage, doctors and hospitals will submit claims to Medicare first and then the MediGap plan is electronically notified to pay the balance.
Medicare Supplement Plan F is the best MediGap plan available and before January 1, 2020 the most popular nationwide. Medicare Parts A & B and Medigap Plan F working in coordination with each another, will cover 100% of Medicare approved services when seeing any physician/facility in the country that contracts with Medicare.
NOTE: In 2015, Congress signed a law that in part changed what Medicare Supplement plans are available to individuals who are new to Medicare on or after January 1, 2020. After January 1, 2020, a Medicare Supplement that covers the Medicare Part B deductible is no longer be available for sale. That eliminates Plan C and Plan F from being sold to new Medicare beneficiaries. If you already have Plan F or Plan C, you can keep it. Exception: If you were eligible for Medicare prior to Jan 1, 2020, and postponed your enrollment by virtue of having other primary insurance, you may also be eligible to enroll in Plan F or Plan C at the time you enroll in Medicare. As a result of this law, Plan G has become the new best Medicare Supplement available to new Medicare enrollees (who turned sixty-five after Jan 1, 2020).
If you visit a provider who has opted out of Medicare (no longer enrolled as a Medicare provider), you will be responsible to pay the full cost of services utilized. With few exceptions, Medicare Supplements will not pay when Medicare does not pay.
OnlyHealthInsurance believes that Medicare Supplement insurance is, in part, the best approach for creating a comprehensive healthcare package. Please call us for more information about Medicare and Medicare Supplements. We offer a complementary Medicare Part D consultation for our new Medicare Supplement clients. Be sure to ask for your free Medicare Guide to Choosing a Medigap Policy.