What is Medicare Supplement?
Medicare Supplement, or Medigap, is a type of private insurance plan. It works with your Medicare plan to boost coverage and lower your out-of-pocket costs.
Medicare, also known as Original Medicare or Parts A and B, helps pay for basic health care like going to a doctor or hospital, getting x-rays, and more. But it comes with numerous out-of-pocket expenses:
- Deductibles
- Copayments
- Coinsurance
Even though Medicare covers a lot of services, you’ll still end up paying a lot of your own money for health care. If you have Medicare and you need health care, you could end up paying thousands of dollars to get it – even if it’s covered! That’s why millions of Americans choose to enhance their Medicare coverage with a Medicare Supplement plan.
What does a Medicare Supplement plan cover?
Medicare Supplement plans help pay for health care expenses like deductibles, copayments, and coinsurance. They also provide coverage for things like medical care outside the US. There are 10 different types of Medicare Supplement plans, each with different benefits, limits, and exclusions.
Of those 10 plans, Medicare Supplement Plan F is by far the most popular one. More than half of the millions of Americans who rely on Medicare Supplement plans choose Plan F. Why? It offers the best coverage:
- Pays coinsurance/copayments for both Medicare Part A and B
- Covers the Medicare Part A and Part B deductible
- Unlike most Supplement plans, Plan F covers excess charges
Do I need Medicare Supplement?
Without a Supplement plan, your health care costs can quickly spiral out of control.
Original Medicare in 2024 comes with over $1,400 in deductibles alone. When you add that to the copayments and coinsurance that come with Original Medicare, you’re easily looking at thousands of dollars just to get standard medical attention! And if you have a serious health condition, that number will only increase.
That’s why millions of people rely on Medicare Supplement insurance. Get the healthcare you deserve, at a price you can afford. Compare Medicare Supplement plans today.
