Coverage:
Medigap policies offer standardized coverage, meaning policies with the same letter offer the same basic benefits, regardless of the insurance company.
Standardization:
There are different types of plans (A through N) with varying benefits.
Cost:
Medigap premiums vary based on the specific plan and the insurance company offering it.
Additional Benefits:
Some plans may cover additional benefits, such as emergency medical care outside the US, or may include benefits like vision, dental, or hearing coverage.
Eligibility:
You must be enrolled in Original Medicare Part A and Part B to be eligible for Medigap.
Open Enrollment:
You have a Medigap Open Enrollment period, which starts when you're 65 or older and enrolled in Medicare Part B. During this period, you can buy any Medigap policy without being denied coverage due to pre-existing conditions.
What are the parts of Medicare?
Part A – Hospital Insurance Helps cover:
Part B – Medical Insurance Helps cover:
Part C - Medicare Advantage
Medicare Advantage plans are a type of Medicare health plan offered by private companies that are approved by Medicare. It provides the same coverage as Original Medicare (Part A and Part B) and may include additional benefits like vision, hearing, and dental coverage, as well as prescription drug coverage (Part D).
Part D – Drug Coverage
Helps cover the cost of prescription drugs (including many recommended shots or vaccines). Plans that offer Medicare drug coverage (Part D) are run by private insurance companies that follow rules set by Medicare.
Eligibility for Medicare
To sign up for Medicare Parts A, B, and supplemental coverage (known as Supplement, Advantage, or Prescription Drug Plans), most people will have an Initial Enrollment Period which is a 7 month period around the time they turn age 65. This period begins 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65.
Once your Initial Enrollment Period is over, if you wish to change or purchase Advantage and Supplement Plans, you must act during the open enrollment period.
MISS THE DEADLINE? To enroll for Medicare outside of the open enrollment period, you will need a qualifying event to be eligible.
Website: www.medicare.gov
Toll-free number: 1-800-MEDICARE (1-800-633-4227)
TTY number: 1-877-486-2048
Many people are confused about the steps to take towards getting Medicare when they become Medicare eligible. You are either eligible due to a disability or due to age.
Most people will age into Medicare and will automatically be enrolled in both parts of Medicare. Medicare hospital benefit called Part A and the outpatient doctor benefit called Part B. You will have an effective date the first of the month of your birthday month, however, if your birthday is on the 1st of the month then you will become effective the 1st of the prior month.
If you are near Medicare eligibility due to age and have not received any information then maybe it’s time to contact Social Security Administration but before you do first consider these things.
Things to consider before enrolling in Medicare part B outpatient coverage.
If you are eligible for both Medicare Part A and Medicare Part B and you refuse to enroll in Part B simply because you don’t see the need and you have no other qualifying health plan such as a group insurance plan through an employer or employer of a spouse, then you could be charged 10% more (for life) on your Part B premium than someone who first signed up when eligible. The penalty is 10% for every year you delayed.
1. You may enroll in Medicare directly by going online here:
You can also apply:
If you do not live in the U.S. or one of its territories you can also contact the nearest U.S. Social Security office, U.S. Embassy or consulate
