If you have Medicare, you likely know that you often still have co-pays to meet.
Yet, if you’re on a fixed income or have frequent medical bills, then even making your payments can be hard. You might need coverage to help you pay less after Medicare has paid its maximum.
Did you know that private insurance offers Medicare Supplement Plans, or Medigap plans? This coverage can help you cover more costs when it comes to your Medicare coverage.
How do I qualify for Medigap Coverage?
You have to receive both Medicare Part A and Medicare Part B to qualify for Medigap insurance.
But, if you have other insurance plans that are private, or if you have a Medicare Advantage Plan, you may not qualify.
It is always best to talk to your insurance agency to see if you qualify for a plan.
How much does Medigap cost?
The cost of a Medigap Plan usually varies. Medigap insurance is a private plan. You pay a monthly premium to your insurance company. You also still pay your monthly Medicare Part A and Part B premiums. However, Medigap plans will help pay bills related to your Part B coverage.
Medigap plans vary in how much of your extra costs they will cover. Depending on what level of plan you choose your costs and coverage options may be different. Where you live may also have different rules. Different states offer different plans at different rates.
Insurance providers also can't cancel your Medigap plan, even if you have new health problems develop. As long as you pay your premium, your policy works.
What does Medigap Cover?
Medigap Insurance covers most of the extra costs related to your Part B coverage. Part B coverage is generally related to preventative services and supplies. Things like checkups are usually covered by Part B. Part B also usually covers the cost of supplies like canes, walkers and diabetic supplies.
But, Medigap insurance won’t cover everything. Certain plans will not cover the cost of prescription drugs, which require a Medicare Part D plan. Medigap plans may also not cover vision or dental care, or long-term medical care. Excluded services vary depending on the type of plan you have.
Deciding whether to purchase a California Medigap plan can be tricky. If you have questions, give Mitchell & Mitchell Insurance Agency, Inc. a call today at (888) 512-8878.