Understanding Medicare Supplement Plans (aka Medigap)

Understanding Medicare Supplement Plans (aka Medigap)

When it comes to Medicare, one size doesn’t fit all. That’s why many people explore adding a Medicare Supplement plan — also known as a Medigap plan — to their Original Medicare coverage. If you’re looking for flexibility, low out-of-pocket costs, and nationwide access to care, a Medigap plan may be a great option.

Here’s what you need to know:

What is a Medicare Supplement Plan?

A Medicare Supplement plan works along side Original Medicare (Parts A & B) to help pay for the costs that Medicare doesn’t fully cover — like deductibles, copays, and coinsurance. It does not include prescription drug coverage, so you'll need to enroll in a separate Part D drug plan for that.

Key Benefits of a Medicare Supplement Plan:

*Go Anywhere
You can see any doctor or go to any hospital in the United States — as long as they accept Medicare. That means no networks to worry about and no need for referrals to see a specialist.

* Low Out-of-Pocket Costs
With Plan G, for example, you’ll only pay a small annual Part B deductible, and then no copays for Medicare-covered services the rest of the year. It's designed to make healthcare expenses more predictable.

*Pair It With a Part D Drug Plan
Because Medigap plans don’t include prescription drug coverage, you’ll need to enroll in a Part D plan separately. These drug plans have their own monthly premium, annual deductible, and copays — but starting in 2025, there’s a $2,000 yearly cap on what you payout-of-pocket for prescriptions.

*Nationwide Coverage
Planning to travel or live in more than one state during the year? A Medicare Supplement plan stays with you wherever you go in the U.S.

Things to Consider:

* Monthly Premiums Based on Age
Your monthly premium is determined by your age, location, and health, and will increase as you get older. Rates vary by insurance company, so it's smart to shop around or work with an agent to compare options.

* Underwriting May Be Required
If you’re moving from a Medicare Advantage plan to a Supplement plan, you may have to go through medical underwriting (answering health questions) unless you're in a guaranteed issue period.

* Limited Extra Benefits
Medigap plans do not include extra benefits like dental, vision, hearing aids, or gym memberships. They focus strictly on covering your Medicare-approved medical expenses.

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Is a Medicare Supplement Right for You?

A Medigap plan might be the right fit if you:

• Want freedom to choose your providers
• Prefer predictable, low out-of-pocket costs
• Don’t need bundled extras like dental or vision
• Are willing to purchase a separate drug plan (Part D)

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📞 Want help comparing plans? Text or call 720-722-0589 — no pressure, just clear answers.