Covered California
Certified Agent

Medicare Supplement Insurance—Everything You Need To Know

Did you know that 9.7% of all ages in the US do not have health insurance? That’s an alarming number and one that makes it crucial to understand how to protect yourself and your family from being left without any options should an emergency arise.

One of the best ways to protect your aged loved ones is to get medicare supplement insurance designed to help pay copayments, deductibles, and coinsurance for your existing medicare.

So, if you want to learn more about what’s included in a medicare supplement insurance plan, keep reading:

What Is Medicare Supplement Insurance?

Medicare supplement insurance is a type of private health insurance that covers medical expenses not covered by Medicare. You probably already know that Medicare is a federal program that provides medical coverage to certain individuals over the age of 65.

Traditional Medicare virtually covers all medical expenses related to hospitalization, nursing home care, or other health problems related to aging. However, many seniors or those with disabilities may still require additional coverage due to their income or specific requirements based on their health conditions.

So, if you’re struggling with making ends meet, it may be time to look into the details to determine whether or not Medicare supplement insurance is right for you.

a person working on a laptop with a stethoscope nearby

Why Is Medicare Supplement Insurance Called ‘Medigap’?

Medicare supplement insurance is called Medigap because it’s designed to help fill in the gaps in Medicare coverage.

Medicare supplement insurance is a health insurance policy sold by reliable private insurers like Covered California Certified Agent to individuals and families who are eligible for Medicare coverage but want additional coverage. These plans provide supplemental medical coverage in addition to what Medicare offers.

Supplemental insurance policies offer a wide range of benefits and types of coverage, including hospitalization, emergency care, prescription drugs, and more. The policies can also be tailored to meet the needs of specific groups—such as retirees or people with disabilities—and may provide lower premiums than traditional Medicare policies if you have certain health conditions. Similarly, some Medigap plans also include coverage for services that Conventional Medicare plan does not, such as health care while traveling outside of the US.

Things To Know Before Buying Medicare Supplement Insurance

an older adult kissing a woman

To understand how Medicare supplement insurance works, here’s what you need to know about it:

  • Eligibility criteria for medicare supplement insurance: Medicare Parts A and B are required.
  • A Medicare Advantage Plan is distinct w.r.t. Medicare supplement policy. While the supplement policy only augments your traditional Medicare advantages, medicare advantage plans are ways to receive Medicare benefits.
  • Your Medigap policy consists of monthly premiums you pay to an established insurance agency. The month-to-month premium for Part B that you’re expected to pay to Medicare is in addition to this monthly premium.
  • Only one person is covered by a Medigap policy. So, if a couple wants Medicare supplement coverage, they will need to purchase individual policies.
  • You can purchase one for yourself and your family from any trusted insurance provider like Covered California Certified Agent,which is authorized to sell Medigap policies within the state you live in.
  • As you grow older, the price of Medigap policies may increase, and plans offered by various insurers may have different prices for the same coverage. Medigap premium costs are capped in some states.
  • Even if you have health issues, any standardized Medicare supplement policy is promised to be renewed. As long as you continue to pay the premiums, the insurance provider does not have any right to cancel your Medicare supplement policy.
  • Drug coverage was previously sold with Medigap policies, but if you have one from the past (purchased before the first of January, 2006), you can keep it.
  • You could decide to get registered for a different (Part D), also known as the Medicare Prescription Drug Plan, since most Medigap drug coverage isn’t acceptable prescription drug coverage and joining a drug plan later could result in higher costs.
  • If you originally are a part of the Advantage Plan, it’s illegal for someone to try selling a Medicare supplement policy unless you’re reverting to traditional Medicare.

Limitations of Medigap Policy

wooden blocks making the word “health insurance”

Typically, Medigap policies do not cover the following:

  • Ongoing long-term care (like in a nursing home)
  • Dental or eye care
  • Hearing aids
  • Back and knee braces
  • Prescription glasses
  • Nursing on-call privately

Plans Of Insurance That Are Not Medigap

Certain insurance policies types are not listed as Medigap plans, such as:

  • Plans for Medicare Advantage (including a PPO, HMO, and POS Plan)
  • Drug Plans On Prescription for Medicare
  • Federal Employees Health Benefits Program and Employer Medicaidand Union Plans (FEHBP)
  • Veterans’ benefits from Tricare
  • policies for long-term care
  • Plans for urban, tribal, and Indian Health Services

Get Our Reliable Medicare Supplement Insurance in California

If you’re searching for a health insurance company to get trusted medicare supplement insurance services for your loved ones, Covered California Certified Agent is your best bet!

We also offer different types of health insurance plans, such as employee insurance, dental insurance, group insurance, and life insurance programs for you

Reach out to us today by dialing 800-771-7653.