Did you know that Medicare Supplements fill the gap in the Original Medicare Plan coverage, and that you can pay some of the health care costs with a Medigap policy? Understanding Medicare Supplement policies are vital in determining whether they might be beneficial to you and your family.

Medicare Supplements, also known as Medigap Insurance, are regulated by state and federal government as compared to other insurance products that are governed only by the state. It is important to know what Medigap Insurance can do for you before buying it.

The ABC of Medigap Insurance:

• There are 12 standardized Medicare Supplement Plans (from A to L) that cover all the states in the U.S.
• Each Letter Plan has a different set of basic and extra benefits.
• All insurance companies must sell Plan A and B as a rule of law.
• You can’t be charged differently from someone else in a particular state for a Medigap Insurance policy. If you pay X amount for Plan J in New York, everybody else would be paying exactly the same amount in NY, regardless of their age or health condition.
• Medicare Supplements do not cover for your spouse’s health care costs. You and your spouse must each buy separate policies.

However, if you are covered under a group health insurance plan, you need not buy Medigap Insurance at all. Also, keep in mind that not all plans are available in all areas of the state where you live.

There are several other factors that determine which plan fits your needs. If you need Medigap Insurance to cover your health care costs, please call me at (804) 747-1384, or email your requirements to lcroft@croftbenefits.com and I will help you find the right health plan.