Supplemental Medicare Insurance

Medicare Supplemental Insurance, also known as Medigap, is a type of private health insurance that helps pay for some of the costs of Original Medicare, which is a federal health insurance program for people who are 65 or older, have certain disabilities, or have End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant).

Medigap plans are standardized, which means that all plans in the same letter category have the same benefits. There are 10 Medigap plans available, each with a different letter designation. The plans differ in the amount of coverage they provide for certain out-of-pocket costs, such as copayments, deductibles, and coinsurance.

To qualify for a Medigap plan, you must have Original Medicare and be enrolled in Part A and Part B. You must also be a United States citizen or legal resident. You can buy a Medigap plan anytime you have Medicare Part B, but you may have to pay a higher premium if you wait until you are older or have a pre-existing condition.

Medigap plans offer a variety of benefits, including:

• Coverage for copayments and deductibles
• Coverage for some preventive services
• Coverage for foreign travel emergency medical care
• Coverage for skilled nursing facility care
• Coverage for hospice care

The cost of Medigap plans varies depending on the plan you choose and your age. The average monthly premium for a Medigap plan in 2023 is $214.

If you are considering buying a Medigap plan, it is important to compare plans and prices to find the best plan for you. You can get help comparing plans and prices from a Medicare insurance agent.

Supplemental Medicare Insurance is an essential addition for those looking to keep healthcare costs manageable. At Ashford Insurance, we understand that the research process can take hours, which is why we offer local, licensed Texas agents to help you navigate your Medicare Supplemental options. Our agents will take your specific needs and budget into account to identify the coverage tailored specifically for you. Best of all, this service is at no cost to you and carries no obligation to commit. With Ashford Insurance, you have access to expert knowledge, guidance, and the best choices available.

Once enrolled in the Original Medicare plan, eligible users can sign up for Medigap, an extra healthcare insurance policy provided by private insurance providers. Medigap covers costs that do not fall under parts A and B of Medicare’s Original plan, such as deductibles and copayments, which can be a significant financial burden for those suffering from serious medical conditions. By purchasing Medigap through an insurance provider, users can save thousands of dollars. Users of Medigap are also covered for international healthcare costs, providing them with an advantage over those without the policy. However, it is important to note that Medigap does not cover dental, private nursing, long-term intensive care, or prescription drugs. These services are covered under other Medicare plans. Finally, it is not possible to buy both Medigap and Medicare Advantage, so users need to choose a plan that best meets their needs. Let Ashford Insurance help you navigate the complexities of Medicare Supplemental options today!