What is a Medicare Supplement?
Medicare Supplement policies (aka Medigap plans) are sold by private insurance companies and are designed to pay on healthcare claims after Original Medicare has paid its part.
How do Medicare Supplements work?
Original Medicare claims are processed first through Medicare and then through you Medicare Supplement provider. The Medicare Supplement plan you select will determine the amount of additional cost coverage that is applied toward your healthcare claims. Any remaining amount still owed to your provider will be your responsibility.
It is important to note that Medicare Supplements only cover claims that are initially covered by Medicare. If your claim isn’t covered by Medicare, it is NOT going to be covered by your Medicare Supplement. Therefore, it’s important to be your own advocate as you receive care. Get into the habit of asking the following two questions to providers so you have confidence your care will be covered:
- Do you accept Medicare?
- Is my appointment/procedure covered by Medicare?
If the answer is “yes” to both of these questions, its likely your insurance will work as you expect it to. If you still have concerns about coverage, call Medicare at (800) 633-4227.
What are my Medicare Supplement options?
There are 10 different Medicare Supplement plans available and they vary in their degree of coverage (see chart below). To simplify comparisons for the consumer, the government standardized these plans; therefore, Plan G with Insurer #1 has the same benefits as Plan G with Insurer #2. The only difference between plans of the same type is the premium so it’s essential to shop around. If you do not enroll in a Medicare Supplement plan during a Guaranteed Issue period, acceptance into your desired plan is subject to passing health questions (underwriting). To avoid this scenario, plan ahead.
