Medicare Supplemental Coverage was designed to supplement or fill in the “gaps” left by the traditional Medicare (Medicare Plan A & Plan B). There are 10 policies currently available, designed in a letter system, ranging from Plan A to Plan N. The most popular options chosen by those purchasing Medigap are Plan F and Plan G. These two are the most comprehensive among the 10 policies, meaning they typically cover a lot more than others, but they’re all also the most expensive.
Each Medicare Supplement Insurance Coverage will differ only by coverage depending on which one you choose, though their structure is pretty much similar.
Medicare only covers a portion of your healthcare expenses. It requires beneficiaries to pay a deductible first before their coverage kicks in and that deductible is increasing every year. Furthermore, Medicare typically only pays 80% for most Medicare Part B (medical) expenses. Thus, having a supplementary coverage will cover what’s left of the expenses you might incur.
Essentially, Medicare Supplement Coverage is also called Medigap Coverage or Medigap Insurance Coverage. Meaning, they are one and the same. If you encounter one or the other, they would refer to the same thing. Those looking to compare Medigap coverage must bear in mind that all coverage and benefits existing among the types of plans between companies are designed by Medicare itself to be the same. The only notable difference among them would be the price offered by the different companies. Thus, it is quite ideal to search for the one with the lowest price since you wouldn’t get a better coverage even if you paid more for the same plan in another company as opposed to the other. Don’t let the higher price fool you into thinking that the company is offering certain benefits for your plan that the other companies don’t. In order to view and know more about the types of benefits and the companies that offer them, you can do so by viewing our Medicare Supplement Comparison page, getting quotes directly online on our website, or by talking to one of our expert and non-biased Medicare Advisors at (855) 230-0801. Our services are all for free!