Medigap plans are also known as Medicare Supplement plans. Medigap covers the out-of-pocket costs that Original Medicare does not cover.
There are ten standardized Medicare Supplement plans (A, B, C, D, F, G, K, L, M, and N) that cover various out-of-pocket expenses from Original Medicare. In this article, we’ll explain why you may need to enroll in a Medicare Supplement plan to help you save money and make the most of your coverage.
If You Need Help with Medicare Costs
Medicare is such a great option for healthcare coverage, but it just does not cover all your medical expenses. There are some costs you will have to cover out-of-pocket, such as copayments, deductibles, coinsurance, and more. And, if you have high healthcare expenses, these costs can add up quickly.
In exchange for a monthly premium, Medicare Supplement plans can offer more coverage for these costs and save you more money in the long run.
Coverage Variety
As mentioned above, there are ten different Medigap plans to choose from. Each plan offers different coverage, meaning, they can suit anyone’s coverage needs.
For example, for the most comprehensive coverage with the Part B deductible covered, Plans C and F are available to those who were eligible for Medicare before January 1, 2020. If you don’t qualify for these plans, you can opt for Plans G or N, which are next in line for comprehensive coverage. However, they do not cover the Part B deductible.
If you’re not too worried about your out-of-pocket costs and want minimal coverage, Plans A or B will be your go-to. Or, if you’re interested in cost-sharing, there’s Plans K and L.
Foreign Travel Emergency Care
Medicare Part A and Part B do not provide coverage if you receive emergency care outside the United States. However, some Medicare Supplement plans cover up to 80% of foreign travel emergency care expenses. Medicare Supplement plans that cover foreign travel emergency care includes Plan C, Plan D, Plan F, Plan G, Plan M, and Plan N.
As you can see, there are many different options to choose from. All you have to do is compare your options to find the one that suits you best. Luckily, that’s where we come in. Let us make this process easier for you and contact us today to get your coverage started!