Medigap is the nickname given to Medicare Supplemental insurance that helps fills in the coverage “gaps” of Original Medicare. It is available to anyone who is Medicare eligible by age, end-stage renal or certain disabilities. We know it can seem a little overwhelming to learn about all the new health options so we have broken it down for you here.
How Does Medigap Work?
You must be enrolled in Medicare Part A & B in order to purchase Medigap. It has a separate premium. These plans are federally standardized, which just means that the Plan G core benefits offered by Humana is equal to the Plan G core benefits offered by Aetna. That just means once you figure out Medigap plan you want, you can pick the insurance provider based on price.
What is the Most Popular Medigap Plan?
According to Market Watch, The fastest growing plan in the United States is Medigap plan G. Learn more about Medigap Plan G here. Here is some of what Plan G covers
- Medicare Part A Deductible
- Medicare Part A & B Coinsurance
- Foreign emergency care up to $50K
- First 3 pints of blood for a transfusion
- Part B excess charges
- Extends hospital coverage up to 365 days
When to Sign Up for Medigap
The best time to buy a Medigap policy is during your initial 6-month enrollment period. This begins the first day of the month you turn 65 (or older) and enrolled in Part B. You can enroll after this time, however you may have to answer health questions to be approved. We recommend to enroll in Medigap when first eligible so you can skip Medical underwriting.
If you missed your initial enrollment period, you might still be able to sign up for Medigap. Just keep in mind that insurers will likely ask health-related questions, and there’s a chance you could be denied coverage. If this is your case, our Instant Medigap Underwriting Checker can help clarify things by showing you if you’d likely be approved for medical underwriting. For free support, reach out to the Senior65.com team at 800-930-7956 or leave a comment.
What if your work still covers you? Well, there are exceptions to the Medigap enrollment period, such as moving out of Medicare Advantage area or your employer-sponsored coverage ends,
To enroll in a Medigap plan call 800-930-7956 or contact Senior65.com.
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