Medicare Supplement

What is a Medicare Supplement (Medigap) Policy?

A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn’t cover, like copayments, coinsurance, and deductibles.

8 Things to know about Medigap policies

  1. You must have Medicare Part A and Part B.
  2. If you have a Medicare Advantage Plan, you can apply for a Medigap policy, but make sure you can leave the plan before your Medigap policy begins.
  3. You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
  4. A Medigap policy only covers one person. If you and your spouse both want coverage, you’ll each have to buy separate policies.
  5. You can buy a Medigap policy from any insurance company that’s licensed in your state to sell one.
  6. Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can’t cancel your policy as long as you pay the premium.
  7. Some Medigap policies sold in the past cover prescription drugs, but Medigap policies sold after January 1, 2006 aren’t allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
  8. It’s illegal for anyone to sell you a Medigap policy if you have a Medicare Medical Savings Account.

Medigap policies don’t cover everything

Medigap policies generally don’t cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing.

Insurance plans that aren’t Medigap

Some types of insurance aren’t Medigap plans, they include:

  • Medicare Advantage Plans (like an HMO, PPO, or Private Fee-for-Service Plan)
  • Medicare Prescription Drug Plans
  • Medicaid
  • Tricare
  • Veterans’ benefits
  • Employer or union plans, including the Federal Employees Health Benefits Program (FEHBP)
  • Long-term care insurance policies
  • Indian Health Service, Tribal, and Urban Indian Health plans

Contact Details

SHK & Associates

Address:
1309 N Boulevard
Anderson, SC 29621

Contact Numbers:
Phone: Sales - (864) 328-2967
Phone: Admin - (864) 328-2967
Fax: (864) 328-2969

Email-icon-dark

Locations

Anderson Office

1309 N Boulevard
Anderson, SC 29621
(864) 328-2967


Elberton Office

8 North Oliver St.
Elberton, GA 30635
(706) 410-1257


Seneca

(864) 642-1108


Greenville Office

101 West Antrim Dr, Ste C
Greenville, SC 29607
(864) 886-2184

Contact Details

SHK & Associates

1309 N Boulevard
Anderson, SC 29621

Contact Numbers:
Sales - (864) 328-2967
Admin - (864) 328-2967
Fax: (864) 328-2969

Email-icon

Request a Quote

 

Share This