Medigap Basics
There are a few things you need to know about Medigap. Firstly, to be eligible for coverage, you must either apply as soon as possible or pass what is called the medical underwriting test.
The six months following the start of your Medicare Part B coverage begins your Medicare Supplement Open Enrollment Period. You may enroll in a Medigap plan during this time regardless of your health and other disqualifying factors.
After this period, you may have to complete a medical underwriting form. You can also be denied coverage or charged extra for premiums based on your medical history and current state of health.
Also, keep in mind that you cannot have Medicare Advantage and a supplement plan at the same time. You also may not have a Part D plan alongside your Medigap plan. Your supplement plan, however, will likely be more than sufficient on its own.
The 10 Different Medigap Plans
There are ten different Medigap plans: A, B, C, D, F, G, K, L, M, and N. Each of these options offers combinations of coverage at varying costs.
With so many options, you can choose one that caters best to your specific healthcare needs and budgets.
All of the ten options will offer some combination of this coverage:
- Part A Coinsurance & Hospital Costs
- Part B Coinsurance or Copayment
- First 3 Pints of Blood for Transfusions
- Part A Hospice Care Coinsurance/Copayment
- Part A Deductible
- Part B Deductible
- Skilled Nursing Care Facility Coinsurance
- Foreign Travel Emergency Care
- Part B Excess Charges
Medigap Vs. Medicare Advantage
These two plans are your main options for additional Medicare coverage. While you can only have one of these two, the benefits they offer are significantly different.
Medicare Advantage takes care of the costs for additional, frequent healthcare. In other words, expect benefits completely separate from what Original Medicare has to offer. If you decide later on that you no longer want Medigap and want an Advantage plan instead, you can switch—but you likely cannot switch from Advantage to Medigap based on the eligibility requirements.
Call Weller Insurance Services
Choosing, comparing, and enrolling in a Medicare plan is a long and difficult process. But, with Weller Insurance Services, it doesn’t have to be. We have been proudly serving Oklahomans for years and will continue to be of service. With our help, you can get the personalized coverage you actually need. When you’re ready to get started, call us at 405-721-2021.
