Medicare provides health coverage to people who are aged 65 and over and to certain people who are under 65 who are disabled. If you are in these categories, Medicare pays for 80% of your health care needs. Now who will pay for the other 20%? A Medicare Supplement is a health insurance policy sold by private insurance companies to fill the “gaps” in Original Medicare Plan coverage. It pays for the 20% that Medicare does not cover. It is also known as a Medigap policy.

Are You Eligible?

If you have Medicare parts A and B, or are about to become eligible for Medicare, then you may purchase a Medicare Supplemental Insurance plan, otherwise known as a Medigap plan. These policies are independent of other types of health insurance, including Medicare Advantage Plans, employer/union group coverage, Veterans Administration (VA) benefits, or TRICARE. Anyone who has Medicare Parts A and Part B, or is about to become Medicare-eligible can buy a Medigap plan.

What Are Your Benefits?

A Medicare Supplemental Insurance plan helps pay some of the health care costs that your Original Medicare Plan doesn’t cover. If you have a Medicare Supplement and you are still in Original Medicare, then Medicare and your supplement policy will work in tandem to pay both their shares of covered health care costs. Your Medigap policy won’t cover any health care costs for your spouse, therefore, both of you have to purchase your own policies. Read the rest of this entry »