Q. What are Medicare Supplement Insurance plans?

A. The government allows private insurance companies to offer Medicare Supplement Insurance plans to provide additional coverage on top of Original Medicare. Medicare Supplement Insurance plans help cover out-of-pocket costs (coinsurance, copays, deductibles) not covered by Original Medicare Parts A and B. It will cover things such as coinsurance for hospital stays, copays, hospice coinsurance or copays, skilled nursing coinsurance, Part A and Part B deductibles.

Q. What is the difference between Medigap and Medicare Supplement Insurance?

A. There is no difference between Medigap and Medicare Supplement Insurance. They are two different names for the same type of plan. Medicare Supplement Insurance is also known as Medigap because it covers cost “gaps” in Original Medicare.

Q. What is the difference between Medicare Supplement Insurance and Medicare Advantage?

A. Medicare supplement plans will add additional coverage for your medicare plan, often including prescription drugs, or cost savings on co-pays. Medicare advantage is an all-in-one plan that replaces a medicare plan.

Q. What is the average cost of Medicare Supplement Insurance?

A. The cost of Medicare Supplement insurance plans vary by plan type and pricing charged by each insurance company. Plan availability and cost can also depend on the area where you live.

Q. Can I change my Medicare Supplement Insurance plan anytime after I have enrolled?

A. No, if you want to enroll in a new plan or change your Medicare Supplement Insurance plan after your Initial Enrollment Period, the insurance company offering the Medicare Supplement Insurance plan can determine if they will allow you to enroll at their discretion.

Q. How can I find the best Medicare Supplement Insurance plan for my health needs?

A. We recommend speaking with a licensed insurance agent to help determine if Medicare Supplement Insurance plans are a good fit for you. Keep in mind that Medicare Supplement Insurance plans only provide added coverage to Original Medicare. Also, Medicare Supplement Insurance plans do not typically include dental, vision, or hearing benefits and you may wish to purchase separate coverage for these needs.