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What is Medicare Supplement (Medigap) insurance?

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

If you have Original Medicare and you purchase a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Your Medigap policy pays its share.

What you need to know about Medigap policies

  1. You must have Medicare Part A and Part B and you need a part D for Prescriptions.
  2. If you have a Medicare Advantage Plan, you can apply for a Medigap policy, make sure you have an election to change your Insurance Coverage.
  3. You pay a monthly premium to a Private Insurance Company for your Medigap Policy in addition to your Medicare Part B Premium.
  4. You can buy a Medigap policy from any Insurance Company or Agent that's Licensed in your State.
  5. Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can't cancel your Medigap policy as long as you pay the premium.
  6. 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).
  7. It's illegal for anyone to sell you a Medigap policy if you have a Medical Savings Account (MSA) Plan, and you can not have a Medigap Policy and a Medicare Advantage Plan at the same time .

For more information about Medigap and Medicare visit www.medicare.gov

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