Medicare Supplement
Medicare Supplement (also known as Medigap or MedSup) policies help cover certain out-of-pocket costs that Original Medicare, Part A and Part B, doesn't cover. There are 10 plan types available in most states, and each plan is labeled with a different letter that corresponds with a certain level of coverage.
This website and its contents are for informational purposes only. Nothing on the website should ever be used as a substitute for professional medical advice. You should always consult with your medical provider regarding diagnosis or treatment for a health condition, including decisions about the correct medication for your condition, as well as prior to undertaking any specific exercise or dietary routine.
HealthPlan Freedom is a licensed insurance agency certified to sell Medicare products.
The purpose of this communication is the solicitation of insurance. Contact will be made by an insurance agent/producer or insurance company.
Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program.
Like almost all insurance plans, Medicare Supplement policies do require premium payments. Because Medigap plans are offered through private insurance companies, the costs associated with each plan may differ. So, to follow up with the above example, a Medigap Plan F you buy in Boston may not cost the same as a Medigap Plan F you buy in Laredo, but the coverage would be the same.
Each private insurance company offering Medicare Supplement plans can set its own plan premiums using one of these rating systems:
Note that besides your Medigap plan premium, you still need to pay your Original Medicare premium(s) as well; Medigap doesn't cover your Medicare Part A or Part B premium. Many people don't pay any Part A premium - if you worked at least 10 years (40 quarters) while paying Medicare taxes, Part A is premium-free. But most beneficiaries pay a monthly Part B premium.
You can apply for a Medigap policy anytime you're enrolled in both Medicare Part A and Part B, but when you apply can make a big difference - both in terms of whether you're accepted into the Medigap plan and in terms of other details, including cost.
Your first opportunity to buy a Medicare Supplement plan is during your Medigap Open Enrollment Period. This six-month period begins the month you're both enrolled in Medicare Part B and 65 years old or greater. If you sign up for a Medigap plan during this period, you have a guaranteed issue right to buy the policy without undergoing medical underwriting or paying a higher premium because of a health problem. Once your Medigap Open Enrollment Period has ended, in most cases you don't have guaranteed issue rights. There are some other situations where you may have guaranteed issue rights.
Besides buying a Medicare Supplement policy during a time when you may have guaranteed issue rights, the following factors might affect the cost of a Medigap plan.
Please note that not every type of Medigap plan or discount will be available in every state or from every insurance company that offers Medigap plans.
HealthPlan Freedom is a licensed insurance agency certified to sell Medicare products.
The purpose of this communication is the solicitation of insurance. Contact will be made by an insurance agent/producer or insurance company.
Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program.
We do not offer every plan available in your area. Currently we represent 16 organizations which offer 48 products. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.