What is a Medigap
policy?
A Medigap policy is a health insurance policy sold by private insurance
companies to fill the "gaps" in Original Medicare Plan coverage.
When you buy a Medigap policy, you pay a premium to the insurance
company. This premium is different than the Medicare Part B premium you
must also pay. As long as you pay your premium, your policy is
guaranteed renewable, which means it is automatically renewed each year.
Your coverage will continue year after year as long as you pay your
premium.
If you buy a Medigap policy, it only covers your health care
costs. It doesn't cover any health care costs for your spouse.
Hospital Stays
- $840 for the first 60 days
- $210 per day for days 61 -90
- $420 per day for days 91 -150
|
Yes |
Skilled Nursing
Facility Stays
- Up to $105 per day for days 21 -100
|
Yes |
Blood
- Cost of the first 3 pints
|
Yes |
| Medicare Part B
yearly deductible
|
Yes |
Medicare Part B
covered services
- 20% of Medicare-approved amount for most covered services
- 50% of the Medicare-approved amount for outpatient mental health
treatment*
- Copayment for outpatient hospital services
|
Yes |
| *All
Medigap policies must pay 50% coinsurance for outpatient mental health
treatment services. |
There are ten standardized Medigap plans called "A" through "J." The
front of a Medigap policy must clearly identify it as "Medicare
Supplement Insurance." Each plan A through J has a different set of
benefits. Plan A covers only the basic (core) benefits. These basic
benefits are included in all the Plans A through J. Plan J offers the
most benefits. If you live in Massachusetts, Minnesota, or Wisconsin,
different types of standardized Medigap plans are sold in your state.
Source: www.medicare.gov
