What is a Medicare Supplement?
Medicare Supplements, also known as Medigap policies, are sold by private insurance companies to help you cover the out-of-pocket costs that Medicare doesn't cover. They help fill "gaps" in Original Medicare.
When you have Original Medicare and a Medigap policy, Medicare will pay up to its limit on your covered health care costs. Then, your Medicare Supplement plan pays its share of the remaining costs, providing coverage up to the plan's limit. That limit usually covers the portion of the costs that Medicare did not pay; however, plan limits depend on which policy you select.
What do Medicare Supplements cover?
Original Medicare only covers 80% of your Part B medical expenses.
If you were to have a lengthy stay in a hospital or need expensive treatments at outpatient facilities, without additional coverage, you can see how your medical costs could add up.
The other 20% of your medical expenses that Original Medicare does not cover comes out of your pocket unless you have additional coverage such as a Medicare Supplement (Medigap) policy.
Medicare Supplements pay that 20% for you***.
Is there anything not covered by Medicare Supplement Plans?
Things that are not covered by Original Medicare or your Medicare Supplement:
Routine dental, vision, and hearing exams
Hearing aids
Eyeglasses or contacts
Long-term care or custodial care
Retail prescription drugs
Which Medigap Plans Can I Choose From?
Plan F, Plan G, and Plan N are the 3 most popular plans that clients choose when selecting a Medigap/Medicare Supplement plan.
*Plans F and G offer a high-deductible plan in some states.
**Plans K and L show how much they'll pay for approved services before you meet your out-of-pocket yearly limit and Part B deductible. The out-of-pocket limit for Plans K and L are $7,060 and $3,530 respectively.
***Plan N pays 100% of the costs of Part B services, except for a copayment of up to $20 for some doctors office visits and up to a $50 copayment for emergency room visits that do not result in an inpatient admission to the hospital.
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***As you can see in the chart above, Plan K, Plan L, & Plan M cover a percentage of your medical expenses that Original Medicare does not pay
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Important disclosures about Medicare Plans: Medicare has neither endorsed nor reviewed this information. Not connected or affiliated with any United States Government or State agency. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.