Medicare Supplement Insurance Plans

Supplement Plans assist you in paying for bills like copayments, coinsurance, and deductibles.

What are Medicare Supplements?

Medicare Supplements, also called Medigap policies, help you pay for the costs that Medicare does not cover.

When you have a Medigap policy, Medicare pays for your health care costs up to its limit. Moreover, a Medigap policy is not the same as a Medicare Advantage Plan.

Medicare Supplement details

What do Medicare Supplements cover?

Only 80 percent of your Part B costs are covered by Original Medicare. If you do not have a Medigap policy, you have to pay the other 20% out of your own pocket. Supplements to Medicare will pay that 20 percent for you.

What happens if you have Original Medicare and purchase a Medicare Supplement (Medigap) policy is as follows:

  • Medicare will contribute its portion of the Medicare-Approved Amount toward the costs of covered medical treatment; and
  • Your Medigap insurance provider then contributes.

What is not covered by Medicare Supplements (Medigap)?

Medicare Supplements plans (Medigap)  do not cover the following:

  • Long-term Care;
  • Vision Care;
  • Dental Services;
  • Hearing Aids;
  • Eyeglasses; and
  • Private-duty nursing.

How to buy a Supplement plan?

Step 1: Talk to an agent. 

It is critical that you sit down or speak with a licensed Medicare agent from SimpleChoice Insurance Brokerage who can assist you in finding the best policy. Our agents can help assess your needs, compare policies, and choose a policy the suits your needs. 

Step 2: Decide what plan you want. 

Supplement plans (Medigap policies) are standardized and, in most states, are designated by the letters A-N. Compare the benefits provided by each plan with one of our advisors and select one that meets your needs.

Step 3: Buy the Medigap policy. 

Inform your Medicare advisor if you decided what policy to buy so you can go through the application process. If you have questions and clarifications with the summary of your plan, do not hesitate to ask and talk to your advisor. 

To learn more about Medicare and its parts, check the video below.