8 Things to Know About Medigap Policies

Granted, I don’t want to say that Medicare is this simple, it is NOT!  But here is a short list from Medicare.gov that makes it a little simple.  Medicare Supplement Policies are be the simplest of all plans because they are standardized; all companies have to offer the exact same benefits – However the prices do vary by company.  That is why it is always good to compare year to year.  You can change your medicare supplement policy AT ANY TIME, I will repeat, AT ANY TIME as long as you qualify.  You DO NOT have to wait for the annual enrollment.  **Please note — if you have a Medicare Advantage plan (Part C) or a Prescription Drug Plan (Part D), you can ONLY make changes during the annual enrollment.**

If you have been on your Medicare Supplement plan for longer than two years, and have gone through a couple of rate increases, go to our free quote engine and see how your rate compares with other companies in your area www.eMedigap411.com .  We promise to not sell your information to millions of other agents, we are an honest agency, one of the few left.  We do business by the “Golden Rule”.

Now where was I … Oh!  Another thing, don’t worry about changing plans and having to change your doctor either, because with a Medicare Supplement, any doctor that takes Medicare … takes a Medicare Supplement.  Therefore if you travel a lot, this is a very good fit for you.  (Please don’t even consider looking at a Medicare Advantage plan for if you travel.  Most of those plans, the HMO’s, if you go out of network … Original Medicare won’t even pick up the bill!!!)  Yikes!  Okay, so on with the simple stuff.

8 things to know about Medigap policies

1.  You must have Medicare Part A and Part B.

2.  If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins. (You can’t have both)

3.  You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.

4.  A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you’ll each have to buy separate policies.

5.  You can buy a Medigap policy from any insurance company that’s licensed in your state to sell one.

6.  Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can’t cancel your Medigap policy as long as you pay the premium.

7.  Some Medigap policies sold in the past cover prescription drugs, but Medigap policies sold after January 1, 2006 aren’t allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).

8.  It’s illegal for anyone to sell you a Medigap policy if you have a Medicare Medical Savings Account (MSA) Plan.

Read all about Medicare Supplements What’s Medicare supplement (Medigap) insurance? | Medicare.gov.

Call for your Free Medicare Supplement Evaluation and Comparison today 866-756-6199 or go online
www.eMedigap411.com

To check your current benefits go to www.medicare.gov