Medicare Coverage (continued Part 2)

Medicare gap (also called Medicare Supplement Insurance)

"Visit any doctor, any hospital, anytime, and anywhere without getting permission from the insurance company"

Consider these facts in deciding if Medicare Supplement insurance for hospital and medical coverage is right for you:

• Medicare does not cover all health care bills.


• Medicare has deductibles, co-payments, and co-insurance for some services.


• The insured is responsible for paying the costs of services not covered by Medicare.

You can buy a Medigap plan from a private insurance companies that's designed to help pay your out-of-pocket costs (the gaps in Part A & B coverage). Each medigap policy only covers one person, so if you and your spouse both want coverage, you each must buy separate policy.

Each standardized medigap policy, however, must offer the same basic benefits, no matter which insurance company sells it. Premiums will vary depending on the plan you choose and the comapny you buy it from, but usually the only difference among Medigap policies sold by different insurance companies is the cost.

The best time to buy a medigap policy is during your "Medigap open-enrollment period" In all states, there is an open enrollement period that lasts for six (06) months and it begins on the first day of the month in which you are both age 65 or older and enrolled in Part B (some states have additional open enrollement periods). For more information about buying a Medigap policy, call your State Health Insurance Assistance Program.

All Medigap policies must follow federal and state laws that are designed to protect consumers and every Medigap policy must be clearly identified as "Medicare Supplement Insurance". Furthermore, Medigap Insurance companies can only sell you a "standardized" Medigap policy. There are 12 such policies identified by letters (A to L).

Note that there are numerous changes for the policies sold in 2010. For the first time, Standardized plans have beeen revamped in most 20 years. Please check back to this blog for the updated information anf free quotes for the plan fits you best.