Medicare Supplement Insurance Medigap – Explanation and Overview ✅

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What is a Medicare Supplement Insurance or Medigap?

A Medicare Supplement Insurance (Medigap) policy helps pay some of the health care costs that Original Medicare doesn't cover, like:
• Copayments
• Coinsurance
• Deductibles
Medigap policies are sold by private companies.
It is very important to pay attention to various rules that apply to Medicare Supplement eligibility and enrollment. I have quite a few videos on this channel about Medicare supplement enrollment times, as well as important things to know about these plans, so please feel free to check it out.
Also, I have to mention this – Medicare supplements no longer cover prescription drugs. So, Individuals who are enrolled in Medigap plans may only obtain Medicare drug coverage (Part D) through a stand-alone prescription drug plan.
Most Medigap plans pay for some or all of the following costs:
Part A
 Part A Coinsurance and Hospital Benefits
 Part A Deductible
 Coverage for 365 Additional Hospital Days when Medicare coverage ends
 Hospice Care Coinsurance or Copayment
 Skilled Nursing Facility Care Coinsurance
Part B
 Part B Coinsurance or Copayment
 Part B Deductible (some plans still cover it)
 Part B Excess Charges
 Blood (First 3 pints) (also under part A)
Other
 Foreign Travel Emergency not covered by Medicare
 Non-Medicare-covered Preventive Services

Now, it is important to note that Medigap policies are standardized
Every Medigap policy must follow federal and state laws designed to protect you, and it must be clearly identified as "Medicare Supplement Insurance." Insurance companies can sell you only a "standardized" policy identified in most states by letters.
All policies offer the same basic benefits but some offer additional benefits, so you can choose which one meets your needs.
The Medigap policy covers coinsurance only after you've paid the deductible (unless the Medigap policy also pays the deductible).

Medicare Supplement Insurance Medigap – Explanation and Overview ✅ #healthy #insurance #health

 

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