While Medicare will cover a substantial amount of your healthcare costs, there will still be other costs left to pay. This includes coinsurance, deductibles, and copayments. Medicare Supplement Plans are there to further ease the burden of these healthcare costs.

What Medicare Supplement Plans Do

Supplemental coverage such as Medigap will: 

• Pay the remaining costs of whatever is left from Medicare’s coverage. Medicare may not cover the entirety of your deductible, coinsurance, or copayment. 
• Cover services that Medicare typically doesn’t. This is dependent upon the specific Medigap plan you choose. Some plans will cover 80% of your bill if you have an emergency during foreign travel (assuming you have paid your annual $250 Medigap deductible).

When is the best time to join Medigap?

It is best to join Medigap:

• During 6-month enrollment period that begins the month you turn 65
• In this period, you have to be signed up for Medicare Part B. Otherwise you cannot get Medigap

What are the different Medigap Plans?

Medigap Plans are split into A, B, C, D, F, G, K, L, M, and N.

Each plan has different levels of coverage, so it is best to speak with your provider and find out which one is best for you.

Can I still join Medigap after the 6-month initial enrollment window passes?

While possible, the likelihood of getting it is lower. Medigap is sold via private insurance. Your insurance company decides whether to sell you a Medigap policy.

Your insurance may deny you for a couple of reasons:

• Your 6-month enrollment window has passed
• Medical underwriting. Your chances after the enrollment period are even more reduced when you have serious complications such as a stroke or heart diseases

If you’re able to get Medigap in this case, you will pay more for it.

What if I want to switch Medigap policies?

You won’t be able to switch unless you are within the 6-month enrollment period mentioned above. Outside of that time window, you may be able to if you are in a special circumstance. Otherwise, federal law does not allow this.

We are here to assist you with any inquiries you may have regarding Medicare and the various aspects of it. Call us today at (509) 993-9887.