What is Medigap Insurance?

What is Medigap insurance? Medigap insurance lets you supplement your current Medicare coverage, which is why it is known as supplementary insurance. You can only apply for Medigap coverage if you already have Medicare, since the two are linked together, but Medigap is not required for people covered by Medicare. This is outstanding coverage that pays for some, most, or all of the expenses that Part A and B Medicare do not cover.

Where You Can Get Medigap

Medigap is provided by numerous insurance companies all over the United States. Not all health insurance companies that you’ve heard of will carry Medigap coverage, but the ones that do all carry the same plans with the same coverage. So what is to stop you from choosing a Medigap plan from the closest insurance provider or the first one to send you a subscription form in the mail?

Well the difference between the plans the companies will offer you is the price. Insurance companies can pretty much charge you whatever they like for Medigap insurance, so it’s up to you to make a reasoned choice that considers all available options.

You can use our  free online quote generator to compare prices between insurance providers. This is the best way to determine what the median rate is, what is acceptable and what you can afford. Depending on the rate plan you go with will decide how much your monthly premium is, and this premium will likely increase a little each year.

Picking a Plan

No matter which insurance provider you choose, the plans stay the same. Each plan provides its own specific coverage, which never varies from company to company. So once you’ve decided on a plan you like, you can purchase that plan with certainty from the insurance company of your choice and know the kind of coverage you will receive.

But what kind of coverage can you expect? That all depends on the plan. You see, Medicare will only cover so much of your medical expenses. You already know this if you are covered by Medicare, and you probably know where the gaps in coverage are for you. Each plan provides coverage that reflects its premiums. For instance, if you want complete coverage for everything that Medicare does not pay for, then you would go with Plan F. But the price you pay for the plan’s premiums are higher than with any other plan.

The various plans will pay for deductibles, co-payments, hospital expenditures past the amount Medicare pays and various other expenses. Choosing the plan that suits you will depend on the amount of coverage you need and what you can afford to pay in insurance premiums.

As you can see Medigap insurance can be some of the very best health insurance you’ve ever had in your life. But that doesn’t mean you should pay too much for it. Enter your zip code below now to see who has the best rates in your area.