Medicare Supplement Policy (Medigap)

A Medicare supplement policy, aka Medigap, is a medical insurance plan sold by a private insurance company.

There are several supplement policies from which to choose, Plans A-N.

How does a supplement policy work?

Medicare Parts A and B (Original Medicare) does not cover all the cost for medical services.

A supplement policy is designed to fill-in the gaps for what Medicare Parts A and B do not cover.

In other words, when an individual opts for a supplement policy, Medicare Parts A and B pay their portion. Then, the supplement policy pays its portion.

The supplement policies from which to choose are Plans A – N. See the chart.

Who is eligible to enroll in a supplement policy?

An individual must be enrolled in Medicare Parts A and B to purchase a supplement policy.

 

When is the best time to enroll in a supplement policy?

The best time to purchase a supplement policy is during the individual’s initial enrollment period.

During the initial enrollment period, there is a 6 month period when the individual can purchase a supplement policy without denial.

Important!

Medicare enrollees should NOT enroll in a supplement policy AND a Medicare Advantage plan.