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How To Choose a MediGap Plan

How To Choose a MediGap Plan

Original Medicare is a great option for many. But there are ways to make it even better.

Medigap is a great option if you already have Medicare. It’s an additional benefit that you can buy. It’s not included with Original Medicare or Advantage plans. 

There are a lot of Medigap plans out there, and it may get confusing on how you can just the best one fit for you. 

What Is MediGap?

But first, let’s discuss what Medigap plans are. Medigap policies provide you with extra insurance. It covers the different costs that are not covered by Medicare Part A and Medicare Part B. With Medigap, you can save more on medical bills. 

Not everyone is qualified for a Medigap policy however. To qualify you need to have Medicare Part A and Medicare Part B. Additionally, those who already have a Medicare Advantage plan or Medicare Part C, may not qualify for Medigap.

What Does Medigap Cover?

So, what exactly does Medigap cover? Well, it depends on the plan that you will get. There is a wide variety of Medigap plans that are designed to supplement your Medicare coverage. 

There’s Medigap A, B, D, G, K, L, M, and N. All of these plans are different in their own way, and they are set up to give you a different level of supplemental coverage. 

How To Choose a MediGap Plan

The key is to find which one is the best one for you. And there’s not short, easy answer here. It starts with taking a look at each specific plan, and reading about the exact benefits each offers.

It helps to find a website which provides you a comparison table, such as Medigap comparison tool to get a better insight on each plan. 

You also need to know that Medigap plans only provide coverage for each person. So, if you’re married, then your spouse will need to get their own policy which is separate from yours. 

After comparing each Medigap plan, you need to think about your budget, and your overall condition. 

Once you take these into consideration, you will have a clearer picture on which plan will be the best for your needs. 

Which Insurance Company To Choose?

Once you decide which plan is best (ie. Medigap A, B, D, G, etc.) then you’ll want to find an insurance company to get the plan from. 

You’ll want to compare the prices from different insurance companies. Additionally, you need to weigh in on the company reviews. It always helps to find reviews from current and previous customers to give you a clear idea on how well the insurance company operates.

When To Enroll in Medigap

You may also be wondering when’s the best time to enroll in Medigap policies. Usually, you can sign up for a Medigap policy within six months after enrolling in Medicare Part B. 

Acceptance for any Medigap policy is pretty much a guarantee, even for those who are experiencing some health problems. Most insurance companies will not add an additional charge for you based on your medical condition, as long as you sign up within six months of getting your Medicare Part B. 

However, once that six-month period has passed, the guarantee also goes away. Your application may not be accepted by insurance policies, especially if you have certain health conditions. On the off-chance that they may accept it, then that means the costs will be higher for you.

We hope the above helps you get a better understanding of how to choose a Medigap plan. For more on Medigap, check out this article.

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