Licensed Health Insurance Agent Curtis Staggs has been in the insurance industry since 2003. He is an independent agent and will shop the market to better serve your health and life insurance needs. If you're looking to lower your rate on your Medicare Supplement Insurance, get a quote today.
What is a Medicare Supplement and how does it work?
A Medicare Supplement policy is also called a Medigap policy because it helps pay your share of the healthcare costs or the coverage "gaps" of Original Medicare (parts A & B); for example, it will pay things like copayments, coinsurance, and deductibles.
There are no provider networks and no referrals required with a Medicare Supplement. Keep your doctors and hospitals. Any health care provider that accepts Medicare patients accepts Medicare supplement insurance. You won’t worry about finding network providers or getting referrals to see specialists.
You will pay the private insurance company a monthly premium for your Medicare Supplement policy in addition to the monthly Part B premium that you pay to Medicare. Remember, you must have Medicare Part A and Part B to qualify for a Medicare Supplement.
A Medicare Supplement is NOT compatible with a Medicare Advantage plan, also called Part C of Medicare. If you want a Medicare Supplement you will have to return to Original Medicare, parts A & B.
Cost is usually the only difference between Medigap policies with the same letter sold by different insurance companies. Different companies can and will charge different premiums for the exact same Medicare Supplement plan.
Medicare Supplement plans are standardized, meaning a plan F with one company offers the exact same benefits as plan F from another company. As you shop for a policy, be sure you're doing an "apples to apples" comparison and comparing the same plans. In Massachusetts, Minnesota, and Wisconsin, Medigap policies are standardized in a different way.
Generally, Medigap policies don’t cover long-term care (like care in a nursing home), vision or dental care, hearing aids, eyeglasses, or private-duty nursing.
For more information, you can goto Medicare.gov
Free Medicare Supplement quote
Works with Original Medicare Parts A and B
A Medicare supplement insurance policy, also known as a Medigap policy, helps pay your share (coinsurance, copayments or deductibles) of the costs of Medicare-covered services. Some Medicare supplement policies cover certain costs not covered by Original Medicare Parts A and B.
Medicare supplement insurance companies can only sell you a standardized Medicare supplement policy identified by letters A through N. Each standardized Medicare supplement insurance policy must offer the same basic benefits, no matter which insurance company sells it. Cost and customer service are usually the only difference between Medicare supplement policies sold by different insurance companies.
A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn't cover, like copayments, coinsurance, and deductibles.
Some Medigap policies also offer coverage for services that Original Medicare doesn't cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then your Medigap policy pays its share.
A Medigap policy is different from a Medicare Advantage Plan. Those plans are ways to get Medicare benefits, while a Medigap policy only supplements your Original Medicare benefits.
8 things to know about Medigap policies
You must have Medicare Part A and Part B.
If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.
You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.
Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you pay the premium.
Some Medigap policies sold in the past cover prescription drugs, but Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
It's illegal for anyone to sell you a Medigap policy if you have a Medicare Medical Savings Account (MSA) Plan.
More independent agents sell Mutual of Omaha’s Medicare supplements than
any other carrier’s products. Here’s why:
Committed to the Medicare supplement market
• Serving the Medicare supplement market since Medicare began in 1966; one of the few original carriers still in
the Medicare supplement market
• Exceeded $1.25 billion in earned Medicare supplement premium in 2009
(Mutual of Omaha, United of Omaha and United World)
• Currently insure more than 800,000 lives and growing
• Paid more than $6.35 billion in Medicare supplement benefits since 1966 and $945 million in 2009 alone
(Mutual of Omaha, United of Omaha and United World)
• Fits our senior-market strength
• Supporting your Medicare supplement business through legislative efforts in Washington D.C.