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A purchased from private company Medicare supplement, often called Medigap, can help pay some medical expenses that Medicare will not cover. This can be a lifesaver for the elderly or lower income citizen not insured. It is important to know all that you can about Medicare and Medigap health care programs and assistance. Some of these cases may be deductibles, co-insurance, or even co-payments. It will also cover items that the Original Medicare won’t take care of such as care outside of the United States when traveling. Your Medigap Health care coverage plan will pay the coverage gap that may not currently be met by your health care plan. There are important parts of the health care plan to know about Medigap programs and policies:
1. You must be enrolled in Part A and Part B of Medicare
2. You have to leave the Medicare Advantage Plan before an accepted Medigap plan can go into effect
3. You will pay a monthly premium to the private insurance company for the Medigap policy in addition to your Part B Medicare premium payment.
4. The Medigap can only cover one person. Spouses will need to purchase separate policies.
5. Any licensed insurance business can sell you a Medigap policy.
6. The plan is renewable, even for those with health issues. As long as the payment for the premium is remitted, you cannot have the policy cancelled.
7. Medigap sold after January 1, 2006 will not cover prescriptions.
8. If you have a Medicare Medical Savings Account Plan, it is illegal for any company to sell you a Medigap policy.