Medigap is a Medicare Supplement insurance that fills in some of the gaps that Original Medicare doesn’t cover. Here are 4 things things you may not have known about Medigap policies.
1) Medigap Covers You Nationwide
Since Medigap plans supplement Medicare, these plans utilize Original Medicare’s nationwide network of doctors and hospitals.
2) To Get Medigap You Need Medicare A & B
To enroll in a Medigap plan you need to be enrolled in BOTH Medicare Part A and Part B.
3) Medigap Doesn’t Cover Drugs
Up until 2006 some Medigap policies also covered prescription drugs, if you are enrolled in an older plan your coverage will not change, but new plans do not cover prescription drug coverage. If you want to be covered for prescription drugs you’ll want to enroll in Medicare Part D.
4) Enroll in Medigap When 1st Eligible
Medigap plans offer guaranteed enrollment regardless of preexisting conditions when you first turn 65 and first eligible for Medicare Part B. This period generally starts on the first of the month you turn 65 and runs for six months. After this time it you may be denied coverage*.
*Some people have job-based or other qualifying insurance that does not require them to enroll in Medicare Part B when they first turn 65. If this is your situation, your Medigap guaranteed enrollment period should start when you first enroll in Medicare Part B.
Next Steps
If you have more questions about Medigap plans call the number above. Click here to get an instant Medigap quote or click here for an online Medigap application.