Medical Supplemental Insurance
Medical Supplemental Insurance exists for those who incur costs not covered by Medicare. By purchasing increased coverage, beneficiaries are responsible for less of their medical costs. Medigap is an excellent solution to supplemental insurance and is not sold by Medicare. Instead, it’s sold by insurance companies.
The difference between Medicare Supplemental Insurance plans
While all Medicare Supplemental plans work to cover costs that Medicare doesn’t, they don’t necessarily cover the same things. There are ten Medigap plans currently being sold. They all cover a percentage of some medical expenses but vary as to what the expenses are and how much is covered.
Deductible and copayment coverage
One of the unique parts about Medigap is that some plans cover full deductibles or copayments. This can be very useful for people that might not use their insurance frequently but then incur a high bill when they do. Not needing to pay deductibles can save lots of money.