Medicare Supplement Insurance

A Medicare Supplement Insurance (Medigap) policy can help pay for some of the health care costs that aren’t covered by the Original Medicare program, such as co-payments, coinsurance and deductibles.

What you need to know about Medigap policies:

• You must have Medicare Part A and Part B to be eligible.
• You can apply for a Medigap policy even if you have a Medicare Advantage Plan, but you must leave the Medicare Advantage Plan before your Medigap policy begins.
• In addition to the monthly Part B premium that you pay to Medicare, you must also pay a monthly premium to the private insurance company.
• A Medigap policy only covers one person.
• Medigap policy can be bought from any insurance company that’s licensed to sell one in your state.
• As long as you pay the premium, an insurance company can’t cancel your Medigap policy.