Medigap plans, also known as Medicare supplement insurance plans, are designed to cover the “gaps” in coverage in Original Medicare. Original Medicare is comprised of Medicare Parts A and B, both of which are administered by the federal government. Medigap is provided by private insurers. In order to decide if you need Medigap insurance it is important to first understand the Medicare gaps.
Medicare Coverage Gaps
Medicare Parts A and B, also known as Original Medicare, provide benefits for inpatient and out-patient care including: hospital stays, some follow-up care in skilled nursing facilities, doctor’s office visits and more. Original Medicare however does not generally cover things like eye care, hearing, custodial care or prescription drugs.
Medigap Coverage
Medigap, or Medicare supplement insurance plans, cover some or all of the expenses that Medicare Parts A and B do not pay. In most states, there are 10 standard Medigap plans from which to choose. It is important to compare the coverage and prices from various providers to ensure you make the best decision.
Medigap plans provide a wide range of benefits. Depending on the Medigap plan you select here are some of the things your plan may cover.
· Part A Deductable
· Part B Annual Deductable
· Hospital and skilled nursing coinsurance
· Part B Coinsurance or copays
· Blood Transfusions (first 3 pints)
· Cost of additional 365 hospital days after you’ve used up your Part A benefits
· Preventative care coinsurance costs
· Foreign travel emergency medical benefits (up to plan limits)
The 10 Medigap Plans
In most states, there are 10 different Medigap plans from which you can choose, and each provides a varying degree of gap coverage at a number of different price points. Visit the Medicare website or contact your State Health Insurance Assistance Program (SHIP) to find out what plans are available in your area.
The best way to identify which Medicare coverage gaps will affect you most is to make a list of all of the medical expenses and procedures you have faced in the past 1-3 years. You can then review Medicare Parts A and B coverage to help determine what out-of-pocket costs you would have faced had you been enrolled in Medicare at the time. If you would have faced several out-of-pocket expenses, purchasing a Medigap plan could be a good investment.
If you are interested in learning more about Medicare and Medigap plans visit www.MedicareMadeClear.com where you can download an easy-to-use reference guide for understanding Medicare, or call 1-800-MEDICARE (TTY 1-877-486-2048) 24 hours a day, 7 days a week.
The family of UnitedHealthcare® Medicare Solutions plans are insured or covered by an affiliate of UnitedHealthcare, a Medicare Advantage organization with a Medicare contract and Medicare-approved Part D Sponsor.
Y0066_101103_131859 File & Use 11092010
