Medicare Supplement or "Medigap" is designed to pay for all of the areas that Original Medicare does not cover. Based on product line selected, Medigap could potentially pay all copays and deductibles, leaving you with virtually no out-of-pocket expense, as well as provide additional benefits over and beyond what Traditional Medicare was ever meant to cover.
Many companies sell Medigap plans but each company must sell the exact same benefits, or standard benefits, of each plan. For example, a Medigap Plan C sold by Company X must have the same benefits as Plan C sold by Company Y. Although the company can request additional benefits over and above other companies to try and differentiate themselves from others, these benefits must be approved by the State in order for the company to recognize these as additions. Another area companies try to differ themselves is in the cost, or premium. Beware, some companies try to underbid their competition in price but do so in a very interesting manner that is necessary to understand prior to selecting a plan to avoid any buyer's remorse.
Be sure to contact us so we can assure you you’re not paying more than you need for your Medigap coverage and are choosing the product lines, type, and carrier you desire.
First, we need to discuss common product lines from A-N including High Deductible F and Innovative F. The following is a standard chart for all companies. Not all companies will carry all product lines.