Supplemental Insurance


 

Almost everyone is eligible for Medicare at age 65 (visit www.medicare.gov for detailed rules and explanations). Because Medicare Part A has a copayment, and because Part B does not have an out-of-pocket maximum, people choose to limit their risk by purchasing supplemental insurance, also referred to as a Medigap policy, to augment their Medicare coverage.

Many variations of supplemental coverage exist, but all Medigap plans are standardized, provide basic (core) services, and are regulated by federal and state laws designed to protect you, the consumer. These plans, typically referred to as the ‘alphabet plans’ (Plan A thru Plan N), generally cover Medicare-approved services, though some policies also offer coverage for additional services not covered by Original Medicare. Federal guidelines specify minimum amounts of coverage by plan type. Still, the process of selecting the right insurance company, and the right plan, is challenging. We are happy to guide and assist you through this process.

For more details, visit http://www.medicare.gov/supplement-other-insurance/medigap/whats-medigap.html.