Medigap plans, also called Medicare Supplement plans, are designed to work alongside Original Medicare and reduce your out-of-pocket costs. Original Medicare only covers about 80% of your Medicare Part B health care expenses. That leaves you responsible for paying for the additional 20%, which can be costly if you are diagnosed with a severe illness. By purchasing a Medicare Supplement plan, you buy some peace of mind by minimizing your financial risk/responsibility. Medigap plans are standardized and have letter names (A-N), allowing you to easily compare various insurance companies’ plans. Medigap plans do not cover prescription drugs, so you will also need to purchase a stand-alone Part-D prescription drug plan if you enroll in one. Call Kevin Leinum Medicare Agent – your local Medicare Expert about what Medicare covers or how enrolling in a Medicare Advantage or Medicare Supplement plan can improve your coverage and reduce your out-of-pocket costs.
