The choice of your Medigap plan should be based on the benefits you want

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Author: William Richards

Medicare supplement insurance is a private health insurance policy offered by the private insurance companies to the Medicare policy holders. This supplemental plan provides some of the health care expenses, which are not or partly provided by the original Medicare policy. It is also known as Medigap as it helps to fill the gap between the expenses paid back by Medicare and the total amount charged. Medigap refers to various private supplemental health insurance plans sold to Medicare beneficiaries in the United States that provide coverage for medical expenses not or only partially covered by Medicare. Medigap's name is derived from the notion that it exists to cover the difference or "gap" between the expenses reimbursed by Medicare and the total amount charged.

For the eligibility to have a Medigap policy a person must be enrolled in part A and B of the original Medicare before they can enroll in a Medigap plan. During the open enrollment period which begins within 6 months of turning 65 or enrolling in Medicare Part B at 65 or older, a person may obtain a Medigap plan on a guaranteed issue basis (i.e. no medical screening required). Outside of open enrollment, the issuing insurance company may require medical screening and may obtain an attending physician's statement if necessary. Medigap insurance is not compatible with other forms of private Medicare coverage, such as a Medicare Advantage plan.

Medigap insurance is sold by private insurance companies. By law, companies can offer only 12 standard Medigap insurance plans, plans, named A through L. Each plan has a different set of benefits. But as the Medicare part A and B are considered to be the basic plans therefore the benefits of these plans can be found in almost all the Medicare supplement insurance plans.

There are some terms and conditions also for the use of the Medigap plans. As for example: Medicare beneficiaries who enroll in a Standalone Part D plan may not retain the drug coverage portion of their Medigap policy. People with Medigap polices that include drug coverage who enrolled in Medicare Part D by May 15, 2006 had a guaranteed right to switch to another Medigap policy that has no prescription drug coverage. Beneficiaries who choose to retain a Medigap policy with drug coverage after that date do not possess such right. In that case, the opportunity to switch to a Medigap policy without drug coverage is solely at the discretion of the private insurance company issuing the replacement policy, but the beneficiary may choose to remove drug coverage from their current Medigap policy and retain all other benefits.

Another important thing that to be mentioned in this context is that from whatever company you may purchase the Medicare supplement plans the company is bound to provide the same benefits. For instance, all Plan C policies have the same benefits no matter which company sells the plan. However, the premium charges can vary.

It is always better to go through the offer documents of all the Medicare supplement plans in order to choose the perfect plan for yourself. Sometimes some seemingly less beneficial policy can prove to be a better choice as they saves a lot of money in the form of deductibles.

The Medigap insurance, Medigap California and Medigap insurance plans available here.