Medicare Supplement Plans

P art A and B of original Medicare cover several health-care supplies and services but doesn't cover everything. For this reason, you might want to consider a Medicare Supplement plan or Medigap. Unlike Medicare, you obtain Medigap from private insurance firms. Medigap plans help cover some of the medial and hospital costs that Original Medicare doesn't pay, for instance, coinsurance, copayments, and annual deductibles. Here's what you should know about these plans. How Medicare Supplement Plans Work Medigap is additional medical insurance that you purchase from private companies to cover medical expenses not included in Original Medicare in the event that you travel outside the United States. These policies don't cover vision care, eyeglasses, hearing aids, and dental care. Most plans don't cover prescription drugs either. While premiums differ among insurers, the benefits of every standard plan are usually the same. For Medicare supplement plans, you pay monthly premiums to the insurer along with your Medicare Part B premium. Your Medigap's cost will vary depending on the plan you purchase, the insurance firm, your age, and location. Important things about Medigap Policies

• You should have Medicare Part B and A
• A Medigap plan differs from a Medicare plan because it seeks to supplement your original Medicare benefits
• You can purchase a Medigap plan from any licensed insurance firm in your state
• It's unlawful for anybody to sell you a Medigap plan if you already have a Medicare Advantage Plan unless you plan to switch back to Original Medicare.
• If you drop your policy, there's no guarantee you'll be able to obtain it back

When it comes to Medigap plans, it's important you shop around because insurers set their own costs.