Medicare Supplements, also known as Medigap policies, are sold by private insurance companies to help you cover the out-of-pocket costs left behind by Medicare.
When you have a Medigap policy, Medicare pays up to its limit on your medical expenses. Then, your Medicare Supplement plan with then kick in up to its limit. That limit usually is able to pay off the remainder. However, that will depend on which policy you select
Every company has to follow the standardized guidelines set by Medicare. The Medigap plans are Plan A, B, C, D, F, G, K, L, M, and N. No matter which company you purchase your Medigap plan from, their plans feature the same set of benefits.
The monthly premium will be the only difference.
Original Medicare only covers 80% of your Part B expenses. The other 20% comes out of your pocket if you do not have a Medigap policy. If you were to have lengthy treatment or some seriously expensive ones, you can see how that could rack up.
Medicare Supplements pay that 20% for you.
Each of the standardized Medigap plans available in most states cover:
Beyond that, each plan offers different benefits and some, like plan F and G are popular because they pay 100% of your cost-sharing responsibility.
It is important for you to sit down with your medical bills and find out where you could most use the assistance of a Medicare Supplement plan. Or you could talk to a licensed Medicare agent from USAmeriCare insurance and they can help you find a policy that works best for you.