Medicare Supplement Insurance Plans

A Medicare Supplement Insurance (Medigap) plan, sold by private companies, can help pay some of the healthcare costs that Original Medicare Part A & Part B does not cover, like copayments, coinsurance, and deductibles. Medicare Supplement insurance is different from a Medicare Advantage Plan. Those plans are ways to get Medicare benefits, while a Medicare Supplement or Medigap policy only supplements Original Medicare benefits.

Medicare Supplement policies are standardized and must follow federal and state laws designed to protect Medicare beneficiaries. All policies offer the same basic benefits, but some offer additional benefits. In Massachusetts, Minnesota, and Wisconsin, Medicare Supplements are standardized in a different way.

Things To Know About Medicare Supplements

  • Your client must have Original Medicare Part A and Part B.
  • If your client has a Medicare Advantage Plan, they can apply for a Medicare Supplement but ensure they can leave the Medicare Advantage Plan before the supplement begins.
  • Beneficiaries pay the private insurance company a monthly premium for their Medicare Supplement in addition to the monthly Original Medicare Part B premium paid to Medicare.
  • A Medicare Supplement insurance plan covers only one person. If your client and their spouse both want coverage, you will have to enroll them each into separate policies.
  • Any standardized Medicare Supplement plan is guaranteed renewable even if your client has health problems. This means their plan can not be canceled if their premium is paid.
  • 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 your client wants prescription drug coverage, contact us to learn more about certifying to sell Medicare Part D Prescription Drug Plans.
  • Medicare Supplements do not generally cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.

To learn more about the Medicare Supplement Insurance Plans available in your market, please contact a member of your Regional Sales Team.

As the landscape continues to change, new products are introduced regularly with top commissions, household discounts, bonus incentives, and much more. You can also click here to review the Medicare Supplement Carriers we offer.

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Medicare Quiz

Medicare provides health coverage to approximately 57 million beneficiaries ages 65 and over, and younger people with permanent disabilities. Medicare will cover an increasingly large number of people as the baby boomer population reaches age 65. Take this quiz to find out how much you know about Medicare, the people it serves, the benefits it covers, and more!